Major global port operator Hutchison Whampoa Ltd boosted its stake in Shenzhen and Hong Kong container ports, the world's third- and fourth-busiest ports, sending its stock 5 percent higher.
Hutchison said on Monday it had agreed to buy port and property assets from partner China Resources (Holdings) Co Ltd, parent of China Resources Enterprise Ltd, for HK$5.7 billion ($732 million). Its shares closed up 5.25 percent at HK$84.20, the highest level since November 12, and outperforming a 1.7 percent gain on the broader market.
Source:China Daily
Hutchison said on Monday it had agreed to buy port and property assets from partner China Resources (Holdings) Co Ltd, parent of China Resources Enterprise Ltd, for HK$5.7 billion ($732 million). Its shares closed up 5.25 percent at HK$84.20, the highest level since November 12, and outperforming a 1.7 percent gain on the broader market.
Source:China Daily
