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Cheung Kong, Hutchison say shareholders approve restructuring plan
[HONG KONG] Hong Kong developer Cheung Kong (Holdings) Ltd said on Wednesday shareholders have approved a restructuring plan and both its shares and conglomerate Hutchison Whampoa Ltd's shares will resume trading in the afternoon.
Shares of Cheung Kong and Hutchison Whampoa, controlled by tycoon Li Ka-shing, closed at HK$151.3 and HK$104.8 respectively on Tuesday before their trading was suspended on Wednesday morning.
Asia's richest man Li Ka-shing is restructuring his business empire to create two listed companies, one focusing on property and the other on telecoms, retail and energy, in a bid to boost their value and attract more investors.