Li Ka-shing's Cheung Kong says drops plan to list hotel unit
HONG KONG Feb 18 (Reuters) - Hong Kong tycoon Li Ka-shing's property firm Cheung Kong (Holdings) Ltd said on Monday it had dropped a plan to list its extended stay hotel business and would instead sell part of the unit to generate cash.
Executive director Justin Chiu told reporters the company planned to initially sell a hotel project with 360 rooms.
Thomson Reuters publication IFR reported in October that Cheung Kong planned to list its extended stay hotel business in a deal that could raise up to $800 million. (Reporting By Alison Leung; Editing by Anne Marie Roantree)
- U.S.-Israeli tensions rise as hostilities in Gaza subside |
- Hague court to order Russia to pay $50 billion in Yukos case: paper
- Pushing locals aside, Russians take top rebel posts in east Ukraine
- Obama could curb corporate 'inversions' on his own: ex-U.S. official
- Family of five found shot dead in Maine home: police