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
Typepublic
SEHK: 715
IndustryReal Estate
SuccessorChina Oceanwide Holdings Limited
Founded2001
Defunct2014
Headquarters
  • Bermuda (registered office)
  • Hong Kong (headquarters)
Area served
mainland China
Key people
Canning Fok (Chairman)
Revenue HK$88.4 million (2013)
HK$174.7 million (2013)
Total assets HK$6.553 billion (2013)
Total equity HK$6.101 billion (2013)
OwnerHutchison Whampoa (71.36%)
ParentHutchison 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
  1. "2013 Annual Report" (PDF). Hutchison Harbour Ring. Hong Kong Stock Exchange. 3 April 2014. Retrieved 23 January 2017.
  2. "Oceanwide Holdings Officially Takes Over Hutchison Harbour Ring". ACN Newswire. 19 December 2014. Retrieved 25 August 2015.
  3. Hutchison Harbour Ring Limited
  4. "Archived copy". Archived from the original on 2017-02-02. Retrieved 2017-01-24.CS1 maint: archived copy as title (link)
  5. "Archived copy". Archived from the original on 2017-02-02. Retrieved 2017-01-24.CS1 maint: archived copy as title (link)
  6. Hutchison, ICG buy Harbour Ring, form Web alliance
  7. "Top of the Game" (PDF). Archived from the original (PDF) on 2010-11-04. Retrieved 2009-04-15.
  8. Cao, Bonnie (6 November 2014). "Li Ka-Shing's Hutchison Sells Harbour Ring Control to Oceanwide". Bloomberg Business. Retrieved 25 August 2015.


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