Hutchison listing meets barrier from Hong Kong stock market

11 Jun 2004

Hutchison Whampoa’s plans to list eight telecoms businesses has run into troubled water after it encountered opposition from the Hong Kong stock exchange. Li Ka-shing’s group had applied for permission to spin off its Indian operations along with telecoms businesses in Hong Kong, Thailand, Israel, Sri Lanka, Paraguay, Ghana and Macau, through a holding company based in Hong Kong. However, it is feared that in the run-up to legislative elections in the country this autumn, the government is hardening its stance towards entrepreneurs so as not to draw criticism from the opposition democratic camp for granting special favours to tycoons.

Hong Kong, CK Hutchison