Hutchison Harbour Ring

Last updated
Hutchison Harbour Ring
Type public
SEHK:  715
IndustryReal Estate
Founded2001
Defunct2014
Successor China Oceanwide Holdings Limited
Headquarters
  • Bermuda (registered office)
  • Hong Kong (headquarters)
Area served
mainland China
Key people
 Canning Fok (Chairman)
RevenueIncrease2.svg HK$88.4 million (2013)
Decrease2.svg HK$174.7 million (2013)
Total assets Decrease2.svg HK$6.553  billion  (2013)
Total equity Steady2.svg HK$6.101 billion (2013)
Owner Hutchison Whampoa (71.36%)
Parent Hutchison Whampoa
Footnotes /references
in a consolidated basis [1]

Hutchison Harbour Ring Limited was a Bermuda incorporated company based in Hong Kong. The company was sold to Oceanwide Holdings in December 2014. [2]

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[ clarification needed ] 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.

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References

  1. ↑ "2013 Annual Report" (PDF). Hutchison Harbour Ring. Hong Kong Stock Exchange. 3 April 2014. Retrieved 23 January 2017.
  2. 1 2 "Oceanwide Holdings Officially Takes Over Hutchison Harbour Ring". ACN Newswire. 19 December 2014. Retrieved 25 August 2015.
  3. ↑ Hutchison Harbour Ring Limited
  4. ↑ "上海浦港房地产开发有限公司20%股权 -". Archived from the original on 2017-02-02. Retrieved 2017-01-24.
  5. ↑ "上海港陆房地产开发有限公司12%股权 -". Archived from the original on 2017-02-02. Retrieved 2017-01-24.
  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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