CK Infrastructure plans secondary listing in London
The infrastructure arm of Li Ka-shing’s CK Hutchison conglomerate announced on Wednesday that it would put in place a secondary share listing on the London Stock Exchange. CK Infrastructure Holdings said in an announcement that it had sought permission from the UK’s Financial Conduct Authority, and expected to begin trading in its shares on the London bourse’s main market on Monday. “The company believes that a listing in London, in addition to the Company’s listing on the Hong Kong Stock Exchange, will benefit its geographically diverse shareholder base and will assist in building the company’s profile and provide a greater market for trading in the shares,” CK said. HSBC has been appointed to manage the listing. The company noted that Britain was its largest market, with 35.7 percent of profit attributable to shareholders coming from the UK last year. The company had earlier announced a 2 percent increase in earnings for the first six months of the year. CK Infrastructure also announced that it was buying a portfolio of windfarms in the UK for HK$3.5 billion, its third acquisition of the year.