Hutchison Harbour Ring

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Hutchison Harbour Ring Limited
和記港陸有限公司
Listed company
Industry Manufacturing
Founded 2001
Headquarters Hong Kong, People's Republic of China
Area served
Hong Kong
Products toys, premiums, telecommunication accessories, electronic products
Owner Oceanwide Holdings
Website www.oceanwide.hk

Hutchison Harbour Ring Limited (Chinese: 和記港陸有限公司) (SEHK715) 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[edit]

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[edit]

  1. ^ Hutchison Harbour Ring Limited
  2. ^ a b "Oceanwide Holdings Officially Takes Over Hutchison Harbour Ring". ACN Newswire. 19 December 2014. Retrieved 25 August 2015. 
  3. ^ Hutchison, ICG buy Harbour Ring, form Web alliance
  4. ^ Top of the Game
  5. ^ Cao, Bonnie (6 November 2014). "Li Ka-Shing's Hutchison Sells Harbour Ring Control to Oceanwide". Bloomberg Business. Retrieved 25 August 2015.