Wharf (Holdings) Raised $944 Million From Sale of Facebook, Amazon Shares
May 25 2020 - 07:10PM
Dow Jones News
By P.R. Venkat
Wharf (Holdings) Ltd. has raised a total of $944 million by
selling shares of Amazon.com and Facebook Inc.
The shares were sold in the open market in a series of
transactions since August last year, the Hong Kong-listed
conglomerate said late Monday.
Wharf said that stock market conditions in the past year
presented an opportunity to capture the capital gains from its
investment in Amazon shares and Facebook shares to further enhance
its shareholders' value.
The company raised $503 million from selling 2.58 million shares
of Facebook at an average price of $195. It also sold 2.23 million
Amazon shares at an average price of $1,975, raising $441
million.
Wharf (Holdings) business interests include property, hotels and
logistics.
Write to P.R. Venkat at venkat.pr@wsj.com
(END) Dow Jones Newswires
May 25, 2020 19:55 ET (23:55 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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