Cheung Kong Infrastructure eyes $437m share sale

The infrastructure investment vehicle of Hong Kong tycoon Li Ka-shing agreed to sell 84.5 million new shares at a 7 percent discount.

A Reuters report said CKI will be selling the shares at HK$40.41 per share, or a 7 percent discount to the previous close, to controlling shareholder Hutchison Infrastructure Holdings Ltd, a unit of Hutchison Whampoa Ltd.

Hutchison will subscribe for the new shares after sales of the same amount of existing shares at the same price to third party investors, according to the report.

View the report here.