Category: Money tips Release Date: 2006-06-24
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Chinese richest man Li Ka-shing donated last week, on the personal property of the third position this week, start immediately realized. August 30, which will hold the value of 2.4 billion Hong Kong dollars CK Life Sciences Int'l (8222.HK) shares of donation of the Li Ka Shing Foundation; also indicated that, in addition to Cheung Kong (0001.HK), Hutchison Whampoa (0013.HK) and the Husky, the subsidiary of the other property can be donated.
Hong Kong Stock Exchange equity data show that Li Ka-shing in the week, three have 2.835 billion shares of privately held shares of Cheung Kong Life Sciences free of charge transferred to the Li Ka Shing Foundation, the sum of shares of Cheung Kong Life Sciences has been accounted for 29.5% of the issued share capital, to August 30 day's closing price, market capitalization of 2.4 billion Hong Kong dollars. The donation, the Li Ka-shing's Cheung Kong Holdings still holds controlling 44.3% stake in Yangtze River Life Sciences.
Li Ka-shing, said through a spokesman, the transfer of shares with no lock-up period, but the Foundation long-term shareholding. He took up in July 2002 of CK Life Sciences has been listed on the stock held by batch, the spokesman said Li Ka-shing from the outset planned to donate the shares, only to be corporate earnings will be put into practice, and the present of CK Life Sciences has begun a profit.
Li Ka-shing and Hutchison Whampoa to attend last week (0013.HK) results briefing, disclosed that the final will donate no less than one-third of private wealth as the "third son" of the Li Ka Shing Foundation, but the injection of funds The assets are not included Cheung Kong Holdings (0001.HK), Hutchison Whampoa and Husky Energy 3 shares.
Li Ka-shing spokesman has reiterated that its holdings of Cheung Kong Holdings, Hutchison Whampoa, Husky 3 company's stock, whether now or in the future will not be dropped into the Foundation, while the addition to these three stocks, other assets can be donated out. Li Ka-shing explained that the entire company Cheung Kong Holdings, Hutchison Whampoa is involved in many areas of the multinational corporations, Husky Energy is the main core business, it should not change in shareholding. The spokesman's briefing, Li Ka-shing has invested many years in other industries stocks, bonds, etc. Many of these assets have been put into the Foundation, but not made public. But the spokesman did not disclose the current value of specific assets Li Ka Shing Foundation.
Analysts expect the information disclosed in accordance with Li Ka-shing, in Cheung Kong, Hutchison, Husky stake in three companies accounted for less than two-thirds of his wealth. With three companies this week, three of the closing prices, Li Ka-shing of the total value of privately held more than 164 billion Hong Kong dollars, half of which came from Husky Energy. On this basis, Li Ka-shing's personal wealth to reach at least 246 billion Hong Kong dollars, the Foundation donated the property this will reach 82 billion Hong Kong dollars, or, which is equivalent to 26% of Hong Kong's fiscal reserves.
Li Ka Shing Foundation was established in 1980, the fund proceeds used to charity. The foundation has so far donated funds and pledges to donate about 77 billion HK dollars, mainly for health and education. The distribution of their contributions, mainland China accounted for 64% and Hong Kong accounted for 29%, 7% from overseas. In recent years, the Foundation donated more notable projects include the 2000, will donate 600 million Hong Kong dollars, Shantou University, in 2005 of 10 billion Hong Kong dollars donated University of Hong Kong Li Ka Shing Faculty of Medicine, and nearly 100 million dollar five-year cumulative donations to the mainland with disabilities human industry and so on.
