March 17, 2015 / 1:27 AM / 4 years ago

HK's Hutchison shares halted pending court hearing on reorganization

Hutchison Whampoa Ltd and Cheung Kong Holdings Chairman Li Ka-shing shares a Chinese New Year greeting to journalists at a news conference on the companies annual results in Hong Kong February 26, 2015. REUTERS/Bobby Yip

HONG KONG (Reuters) - Hutchison Whampoa Ltd 0013.HK, the ports-to-telecoms group of Asia’s richest man Li Ka-shing, requested a trading halt on its shares pending a court ruling on a proposed reorganization with Cheung Kong Holdings Ltd (0001.HK).

The reorganization is part of a plan by Li unveiled in January under which Hutchison will sell its real estate businesses to Cheung Kong, which will continue to focus on the property sector.

Shares of Cheung Kong had been halted since March 10.

Reporting by Elzio Barreto; Editing by Edwina Gibbs

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