Hong Kong’s CK Infrastructure gets approval for secondary listing in London

:Hong Kong’s CK Infrastructure Holdings said on Wednesday it has received approval from the UK’s financial regulatory body for a secondary listing on the London Stock Exchange.

The company, a part of conglomerate CK Hutchison and Hong Kong tycoon Li Ka-shing’s business empire, said its admission prospectus was approved by the United Kingdom’s Financial Conduct Authority, and expects its shares to start trading on the London Stock Exchange on Aug. 19.

Shares of the company will trade under ticker symbol “CKI”.

“The company believes that a listing in London … will benefit its geographically diverse shareholder base and will assist in building the company’s profile and provide a greater market for trading in the shares,” CK Infrastructure said in a statement.

The United Kingdom forms the company’s largest market, which accounted for about 36 per cent of its earnings in 2023.

The company had flagged in mid-July it was exploring a secondary listing on an overseas stock exchange such as London.

Last month, Britain’s markets watchdog approved the biggest reform of the London Stock Exchange in three decades, to attract more innovative companies by reducing red tape.

Earlier in the day, CK Infrastructure reported a 2 per cent rise in its half-yearly earnings and announced a deal to buy onshore wind farms in the UK.