Hong Kong business tycoon and billionaire Li Ka-shing and his eldest son Victor Li Tzar-kuoi raised their stakes in CK Life Sciences International (Holdings) Inc<8222>. After the deal, Li Tzar-kuoi's shareholdings in CK Life Sciences reached 45.34% from the previous 44.33%.
Li Ka-shing, Chairman of Hutchison Whampoa Ltd (HWL)<13> and Cheung Kong (Holdings) Ltd<1>, and Victor Li Tzar-kuoi, Deputy Chairman and Managing Director of Cheung Kong (Holdings) and Chairman of CK Life Sciences, acquired 97 million shares in CK Life Sciences at the price of HK$0.37 per share on Aug. 12, involving total investment of approximately HK$35.89 million, reports said citing statistics from the Hong Kong Stock Exchange (HKEx).
CK Life Sciences released its interim financial report on Aug. 11 and announced that its net profit for the first half of this year sharply dropped 87% year-on-year to HK$8.30 million. The Hong Kong-based company attributed the significant decrease to the loss of selling part of its investment products. Its investment portfolio fair value lost HK$545 million during the period.
However, taking only health and farming industry businesses into calculation, CK Life Sciences' profit would surge 80% to HK$62.80 million from a year earlier, said industry sources.
CK Life Sciences has submitted application to HKEx in July to list on the main board.