January 9, 2015 / 9:21 AM / 5 years ago

Li Ka-shing's Cheung Kong to restructure group, cancel Hutchison shares

HONG KONG, Jan 9 (Reuters) - Cheung Kong Holdings Ltd , controlled by Asia’s richest man, Li Ka-shing, on Friday announced plans to reorganise group companies into two new Hong Kong-listed entities.

The reorganisation will see the creation of CKH Holdings, which will hold all non-property businesses, and CK Property.

As part of the reorganization, Cheung Kong will ask Hutchison Whampoa Ltd shareholders to exchange each share for 0.684 CKH Holdings share, resulting in the cancellation of Hutchison shares. (Reporting by Yimou Lee)

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