Richard Li sells part of HKT Trust stake

12 Apr 2013

Hong Kong tycoon Richard Li has raised about HKD1.28 billion (USD164.2 million) from an accelerated placement in HKT Trust, the Hong Kong telecom business trust spun off from telco PCCW. TheAsset.com reports that Li sold his stake in HKT Trust held by Eisner Investment, Pacific Century Group and Pacific Century Diversified, to offload a total of 163.431 million share stapled units (SSU), representing around 2.5% of total SSUs outstanding. After the sale, Li’s direct (personal) stake in the company is reduced to about 2.9%, although his interest in HKT Trust remains significant with an indirect stake through PCCW, which holds 63% of shares.

Hong Kong, HKT (incl. CSL), PCCW Group