HONG KONG (Yosefardi) – Lippo Limited through Hennessy, its wholly-owned subsidiary, boosted its ownership in Hongkong Chinese Limited (HKC), also listed on the Stock Exchange.
Hennessy made a cross trade of an aggregate of 194,190,000 HKC Shares (9.72% of the entire issued share capital) from the Third Party Vendors on 20 August 2014 at an aggregate consideration of H$368,961,000.
After this transaction, Hennessy controls 65.84% stake in HKC, an investment holding company.