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CK Group to sell Hong Kong firm AMTD stake after wild 14,000% gain

CK currently holds less than 4 per cent of AMTD Group, according to a statement



Li Ka-shing
Li Ka-shing

Billionaire Li Ka-shing’s CK Group is selling its remaining stake in AMTD Group, the parent of the financial firm whose shares soared more than 14,000 per cent after listing less than three weeks ago.

CK currently holds less than 4 per cent of AMTD Group, according to a statement.

It’s not invested in AMTD Digital, the company whose market cap has surpassed that of most financial giants.

The 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.

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First Published: Thu, August 04 2022. 23:19 IST