Deals
Li Makes Biggest Hutchison Stock Buy in Seven Years
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Billionaire Li Ka-shing made his biggest investment in Hutchison Whampoa Ltd. shares in at least seven years, boosting a stock that’s already been the best performer of the month in Hong Kong’s Hang Seng Index.
Li bought 5.9 million Hutchison shares at an average price of HK$59.35 on Aug. 10, his largest single purchase since at least January 2003, according to a filing to the Hong Kong stock exchange yesterday. He’s bought more than 15 million shares since Aug. 6, a day after the company posted first-half profit that beat analysts’ estimates.