Tycoon Li draws line from AMTD Digital

Cheung Kong Group clarified on Thursday that it does not hold any shares in AMTD Digital, nor do they have any business dealings with the company. 

The clarification came after shares of AMTD Digital soared 9,400 percent to US$742 (HK$5,787) in two weeks of being listed in New York, with media reporting that the company was backed by Hong Kong’s richest man Li Ka-shing, who is also the senior advisor of the CK Group. 

According to a statement issued by the CK Group, it noted that the group sold most of its shares in AMTD Group - the parent company of AMTD Digital - nearly 10 years ago. 

“The Group currently holds less than 4 percent of remaining shares in AMTD Group that was not sold together at that time. The Group has entered into negotiations on the sale of its remaining shares in AMTD Group,” according to the statement. 

The statement also wrote that CK Group remaining interest in AMTD Group has been classified under the Group’s small financial investment projects. 

There are currently no representatives from the CK Group sitting on the board of AMTD Group. “CK Group is not involved in its operation and has no knowledge about any of its business or plans,” it read.