CTF Capital, owned by the Cheng family, has indirectly transferred 5.32 billion shares in Chow Tai Fook Jewellery (1929) to Chow Tai Fook Enterprises, making CTFE holding 35.1 percent shares of the jeweler.
Earlier, CTFC divested 54 percent shares of Chow Tai Fook Jewellery to its subsidiary Beyond Luck, and CTFE also owned 35 percent of the unit's stake.
After this equity restructuring, CTFC still maintained its holding of 73.38 percent stakes in the jeweler, as CTFE is one of its subsidiaries.
Currently, CTFE owns 53.93 percent, 73.98 percent, and 45.24 percent shares of Chow Tai Fook Jewellery, CTF Services (0659), and New World Development (0017), respectively, worth HK$135 billion, HK$34.3 billion, and HK$18.1 billion.
CTFE said this move aimed to enhance its capital structure, unlocking the business value.
