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LAI KIEN WEI
LAI KIEN WEI
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2022-08-04
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Li Ka-shing’s CK to Sell AMTD Stake After Unit Soars 14,000%
Billionaire Li Ka-shing’s CK Group is selling its remaining stake in AMTD Group Co., the parent of t
Li Ka-shing’s CK to Sell AMTD Stake After Unit Soars 14,000%
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2022-08-04
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It’s not invested in AMTD Digital Inc., the company whose market cap has surpassed that of most financial giants.Major OutlierAMTD Digital's market value tops $200 billion with just $25 million in revenueThe rally has raised eyebrows from New York to Hong Kong, given AMTD Digital reported just $25 million in revenue for the year ended April 2021. Analysts have described the market gains as unjustified, and the company itself has said it doesn’t know of any “material” events that could be affecting the stock price.Li’s CK was a founding member of AMTD Group in 2003, though it sold most of its shares almost a decade ago, the statement said. It added that CK currently has no representative on AMTD Group’s board and is not involved in its operations.Calvin Choi, AMTD Group’s chairman and chief executive officer, is now its major shareholder with a 32.5% stake held through a British Virgin Islands vehicle. 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