Investing
Li Ka-shing Is Cutting Ties With AMTD After Wild 14,000% Gain
- His CK Group currently holds less than 4% of AMTD Group
- AMTD Digital’s market cap has become bigger than Goldman’s
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One of the world’s most successful investors is cutting ties with the parent of AMTD Digital Inc., whose 14,000% stock-market rally in a matter of weeks has raised eyebrows across Wall Street.
Billionaire Li Ka-shing’s CK Group is selling its remaining stake in AMTD Group Co., according to a statement on Thursday. Its unit AMTD Digital, a formerly obscure Hong Kong financial-services firm, vaulted into the spotlight this month after its market value inexplicably surpassed those of global giants including Goldman Sachs Group Inc. and Wells Fargo & Co.