Hutchison Harbour Ring
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| Company type | Listed company |
|---|---|
| Industry | Manufacturing |
| Founded | 2001 |
| Headquarters | , |
Area served | Hong Kong |
| Products | toys, premiums, telecommunication accessories, electronic products |
| Owner | Oceanwide Holdings |
Hutchison Harbour Ring Limited (Chinese: 和記港陸有限公司) (SEHK: 715) is 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.[1] Formerly a subsidiary of Hutchison Whampoa, the company was sold to Oceanwide Holdings in December 2014.[2]
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.[3] In 2001, it was renamed to Hutchison Harbour Ring Limited.[4]
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), with a condition that it would purchase the remainder.[5] Oceanwide purchased the remaining shares from Hutchison Whampoa on 19 December 2014.[2]
References
- ^ Hutchison Harbour Ring Limited
- ^ a b "Oceanwide Holdings Officially Takes Over Hutchison Harbour Ring". ACN Newswire. 19 December 2014. Retrieved 25 August 2015.
- ^ Hutchison, ICG buy Harbour Ring, form Web alliance
- ^ Top of the Game
- ^ 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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