Pacific Century headed for delisting?

Exec chairman holds 1.03% of its shares while vehicles controlled by him hold 85.7%; free float down to 13%

Published Wed, Apr 29, 2015 · 09:50 PM

Singapore

AN investment holding company controlled by Hong Kong tycoon Li Ka-shing's younger son Richard Li is veering closer to the delisting threshold on the Singapore Exchange (SGX) after months of steady share buybacks, fuelling speculation about what its next move could be.

Mainboard-listed Pacific Century Regional Developments (PCRD) leapt to its highest level in more than a decade on Wednesday, jumping four cents or 9.9 per cent to S$0.445 on 11.6 million shares traded.

Vehicles controlled by Mr Li held about 85.7 per cent of the company as at Wednesday. Mr Richard Li, its billionaire executive chairman, also had 1.03 per cent, which means that the stock's free float is down …

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