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Hutchison Harbour Ring

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Hutchison Harbour Ring Limited
和記港陸有限公司
Company typeListed company
IndustryManufacturing
Founded2001
Headquarters,
Area served
Hong Kong
Productstoys, premiums, telecommunication accessories, electronic products
OwnerOceanwide Holdings

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

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

  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.