CK Infrastructure Holdings (CKI), a company under the umbrella of Li Ka-shing’s global business empire, has made its debut on the London stock exchange with a secondary listing that did not raise any new funds. This move comes as CKI becomes the first foreign company to take advantage of the U.K.’s recent listing rule overhaul, aimed at reviving the country’s capital markets and increasing competitiveness against U.S. stock exchanges. Trading at £5.64 on the London bourse, CKI’s shares were at a slight discount of 0.14% compared to its Hong Kong-listed shares that closed at HK$56.55 on the same day.
Victor Li, chairman of CK Hutchison and the eldest son of Li Ka-shing, stated in an analysts meeting that there are no plans to proceed with a U.K. secondary listing for other companies under the CK Group. CK Hutchison and CK Asset, flagship companies of CK Group, are also under Victor’s leadership. CKI mentioned that the secondary listing in the U.K. aims to benefit its diverse shareholder base and provide a greater market for trading in the company’s shares. The decision for the secondary listing was first flagged in July, with no plans for fundraising.
CKI, which owns energy and water utilities globally, reported a net profit increase of 1.7% to HK$4.3 billion in the first half of 2024, with a 2.3% drop in revenue to HK$19.1 billion. Its U.K. business contributed nearly half of its turnover, with investments in other regions like Australia, continental Europe, Hong Kong, mainland China, Canada, and New Zealand. Sitting on a cash reserve of over HK$9 billion, CKI has been taking advantage of opportunities in the market with recent acquisitions including a wind farm portfolio in the U.K. for £350 million and renewable power assets from SDCL Energy Efficiency Income Trust for £90.8 million.
Li Ka-shing, at the age of 96, handed over the reins of his business empire to his son Victor in 2018, with Li continuing to serve as a senior advisor to his flagship companies CK Hutchison and CK Asset. The business empire includes interests in ports, utilities, telecom, real estate, and retail, with CKI playing a significant role as part of this far-reaching empire. CKI’s recent moves to expand and capitalize on opportunities in the market reflect the company’s strategy to grow and strengthen its presence in the global infrastructure and energy sectors. The secondary listing on the London stock exchange marks a milestone for CKI as it continues to navigate the competitive landscape of the international capital markets.
Overall, CK Infrastructure Holdings (CKI) has made a notable entry into the London stock exchange with a secondary listing that did not involve raising new funds. As part of Li Ka-shing’s business empire, CKI’s debut in London comes at a time when the U.K. is implementing significant changes to its listing rules to boost competitiveness in the global market. With a focus on expanding its presence in the infrastructure and energy sectors, CKI’s recent acquisitions and financial performance demonstrate its strategic approach to growth and diversification. As part of a larger empire with interests in various industries, CKI’s secondary listing in London signifies a new chapter in its journey towards further international expansion and market presence.
