Hutchison Harbour Ring
Hutchison Harbour Ring Limited was a Bermuda incorporated company based in Hong Kong. The company was sold to Oceanwide Holdings in December 2014.[2]
![]() Hutchison Harbour Ring logo | |
Type | public |
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SEHK: 715 | |
Industry | Real Estate |
Successor | China Oceanwide Holdings Limited |
Founded | 2001 |
Defunct | 2014 |
Headquarters |
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Area served | mainland China |
Key people | Canning Fok (Chairman) |
Revenue | ![]() |
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Total assets | ![]() |
Total equity | ![]() |
Owner | Hutchison Whampoa (71.36%) |
Parent | Hutchison Whampoa |
Footnotes / references in a consolidated basis[1] |
It was a holding company that manufactures and markets toys, premiums, telecommunication accessories and electronic products. Its products are mainly sold to the United States and Europe.[3] However, it was transformed into a real estate company, which owned various floors of Harbour Ring Plaza and Harbour Ring Huangpu Centre, both in Shanghai, via two subsidiaries. State-owned enterprise Gold Bund Group was the minority shareholder of both subsidiaries, which offered to the public to buy in 2017.[4][5]
History
Hutchison Harbour Ring Limited, formerly Harbour Ring International Holding Limited, was founded by Dr. Luk Chung Lam (Chinese: 陸宗霖) family. It was listed on the Hong Kong Stock Exchange in 1991. In 2000, Hutchison Whampoa coped with ICG, a Nasdaq-traded electronic commerce company, to acquire Harbour Ring to build electronic commerce businesses in Asia during the Internet bubble period.[6] In 2001, it was renamed to Hutchison Harbour Ring Limited.[7]
In November 2014, Hutchison Whampoa sold a 71.4% majority stake in the company to the Chinese real estate developer Oceanwide Holdings for HK$3.82 billion ($493 million), which activate the mandatory public offer to buy the remain offer from the market.[8][2] Eventually the company remained as a public company, with new name, new business, new assets as China Oceanwide Holdings Limited.
References
- "2013 Annual Report" (PDF). Hutchison Harbour Ring. Hong Kong Stock Exchange. 3 April 2014. Retrieved 23 January 2017.
- "Oceanwide Holdings Officially Takes Over Hutchison Harbour Ring". ACN Newswire. 19 December 2014. Retrieved 25 August 2015.
- Hutchison Harbour Ring Limited
- "Archived copy". Archived from the original on 2017-02-02. Retrieved 2017-01-24.CS1 maint: archived copy as title (link)
- "Archived copy". Archived from the original on 2017-02-02. Retrieved 2017-01-24.CS1 maint: archived copy as title (link)
- Hutchison, ICG buy Harbour Ring, form Web alliance
- "Top of the Game" (PDF). Archived from the original (PDF) on 2010-11-04. Retrieved 2009-04-15.
- Cao, Bonnie (6 November 2014). "Li Ka-Shing's Hutchison Sells Harbour Ring Control to Oceanwide". Bloomberg Business. Retrieved 25 August 2015.