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Li Ka-shing’s CK Infrastructure considering secondary listing overseas



Li Ka-shing’s CK Infrastructure considering secondary listing overseas

A secondary listing could benefit CKI’s geographically diverse shareholder base, enhance its profile, and provide a broader market for trading its shares, the company said in a filing to the Hong Kong stock exchange on Thursday.

While no definitive decision has been made as to whether the company will proceed with such a listing, it would not entail any fundraising, the statement added.

CKI is seeking to boost its global presence, with chairman Victor Li Tzar-kuoi, the elder son of billionaire Li, saying in May that the company was “well placed to capitalise on investment opportunities as they arise around the globe, especially when the world is facing challenges”.

Victor Li, chairman of CK Infrastructure, said he is looking to boost the company’s global presence. Photo: Facebook @ John KC Lee

He also separately said in May that CKI was also on the hunt for potential opportunities in Hong Kong, provided that the returns were reasonable.

The infrastructure company recently made a slew of acquisitions using its HK$13 billion (US$1.7 billion) cash hoard. In May, CKI bought UU Solar, which owns and operates 70 renewable power-generation assets in the United Kingdom, for £90.8 million (US$113.5 million).

UU Solar’s assets comprise 65 solar power projects, four onshore wind farms and one hydropower plant with a total installed capacity of 68.7 megawatts, the Post reported in May.

This acquisition came two weeks after CKI, along with CK Asset and Power Assets – both under CK Group – bought Lionrai Investments No. 1, another UK company that owns a 100 per cent stake in natural gas owner and operator Phoenix Energy.

In addition to the UK, CKI is also one of the largest overseas investors in Australia, with portfolios spanning electricity and gas distribution, gas transmission pipelines and electricity generation.

The company’s Australia investments include SA Power Networks, CitiPower and Powercor, according to its website.

Europe and Australia account for the bulk of CKI’s profit as the company has been struggling with lacklustre performance at home, where the profit contribution from its operations in mainland China and Hong Kong declined 40 per cent in 2023 to HK$117 million, it said in an April report.

CKI posted a net profit of HK$8 billion for 2023, a rise of 3.6 per cent year on year, according to its annual report.

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