Hutchison Whampoa to spin off ports operations
Hutchison Whampoa, one of the flagship companies of Li Ka-shing, the Hong Kong billionaire, said Tuesday that it would spin off some of its busiest port operations in what could be one of the biggest stock market listings in Asia this year.
Hutchison Port Holdings Trust opened at US$0.975, about 3.5 per cent below the offer price, in its Singapore debut on Friday, hurt by weaker market sentiment amid ongoing concerns about Japan and the Middle East.