Latest news with #LeeShauKee
Time of India
10-07-2025
- Business
- Time of India
Hong Kong's Henderson Land to raise $1 billion through convertible bonds
BENGALURU | HONG KONG : Henderson Land Development is raising HK$8 billion ($1.02 billion) through convertible bonds for general corporate purposes and refinancing, the Hong Kong property developer said. The convertible bond issue was announced on Tuesday by Henderson Land, which was founded by Lee Shau Kee , the late Hong Kong property magnate and one of the city's richest men. The initial conversion price is HK$36 per share, and, if the bonds are converted fully, will increase Henderson Land's equity capital by 4.6%. Henderson Land's shares tumbled by as much as 11% on Wednesday morning to HK$25.2 in a reaction to the announcement, before trimming the loss to be down 8.6%. The main Hang Seng Index was down 0.7%. The shares have gained around 36% in the past three months, riding on the property sector's low valuations and on expectations that the property market was bottoming out. "It is likely a chance for profit-taking, given there's still uncertainty in the property market," said an independent Hong Kong-based analyst, referring to the stock's sharp drop on Wednesday. Hong Kong's home prices have dropped by nearly 30% from a 2021 peak, while office vacancy rates reached record highs. Henderson Land is one of the largest office landlords in the city's Central Financial District, facing pressure from oversupply. Henderson Land said in the filing on Tuesday that the fundraising would "diversify the funding sources of the group" for its ongoing business development. Morgan Stanley said in a note that the convertible bonds' interest rate of 0.5% is much lower than the group's 4.51% average funding cost last year, and it could save annual interest of HK$320 million. The net proceeds from the issue of the bonds will be around HK$7.92 billion, Henderson Land said.
Business Times
09-07-2025
- Business
- Business Times
Hong Kong's Henderson Land to raise US$1 billion through convertible bonds
[HONG KONG] Henderson Land Development is raising US$1.02 billion through convertible bonds for general corporate purposes and refinancing, the Hong Kong property developer said. The convertible bond issue was announced on Tuesday by Henderson Land, which was founded by Lee Shau Kee, the late Hong Kong property magnate and one of the city's richest men. The initial conversion price is HK$36 (S$5.87) per share,and, if the bonds are converted fully, will increase Henderson Land's equity capital by 4.6 per cent. Henderson Land's shares tumbled by as much as 11 per cent on Wednesday (Jul 9) morning to HK$25.2 in a reaction to the announcement, before trimming the loss to be down 8.6 per cent. The main Hang Seng Index was down 0.7 per cent. The shares have gained around 36 per cent in the past three months, riding on the property sector's low valuations and on expectations that the property market was bottoming out. 'It is likely a chance for profit-taking, given there's still uncertainty in the property market,' said an independent Hong Kong-based analyst, referring to the stock's sharp drop on Wednesday. A NEWSLETTER FOR YOU Tuesday, 12 pm Property Insights Get an exclusive analysis of real estate and property news in Singapore and beyond. Sign Up Sign Up Hong Kong's home prices have dropped by nearly 30 per cent from a 2021 peak, while office vacancy rates reached record highs. Henderson Land is one of the largest office landlords in the city's Central Financial District, facing pressure from oversupply. Henderson Land said in the filing on Tuesday that the fundraising would 'diversify the funding sources of the group' for its ongoing business development. Morgan Stanley said in a note that the convertible bonds' interest rate of 0.5 per cent is much lower than the group's 4.51 per cent average funding cost last year, and it could save annual interest of HK$320 million. The net proceeds from the issue of the bonds will be around HK$7.92 billion, Henderson Land said. REUTERS
New Straits Times
09-07-2025
- Business
- New Straits Times
HK's Henderson Land to raise US$1bil via bond issue
KUALA LUMPUR: Hong Kong-listed property developer Henderson Land Development said on Tuesday it intends to raise HK$8.00 billion (US$1.02 billion) via its issuance of guaranteed corporate bonds. The firm said it intends to use net proceeds of the raised amount for general corporate purposes and refinancing. The company added that the raising would "diversify the funding sources of the group" for its ongoing business development. Henderson Land had proposed the issuance of the bonds earlier in the day in a separate statement, but did not mention the amount to be raised at the time. The net proceeds from the issue of the bonds will be around HK$7.92 billion, the firm said. The property developer said an application for the bonds to be listed on the Vienna MTF operated by the Vienna Stock Exchange or other internationally recognised stock exchanges will be made by the firm, along with another application for a listing on the Hong Kong Stock Exchange. The company was founded by Hong Kong property magnate Lee Shau Kee, , one of the city's richest men, who passed away in late March at the age of 97.
Time of India
22-05-2025
- Entertainment
- Time of India
Hong Kong billionaire gifts mansion, yacht & land worth $250 million to daughter-in-law before death
In a stunning gesture of wealth and affection, Hong Kong billionaire Lee Shau Kee gave his daughter-in-law, Cathy Chui, expensive gifts worth almost $250 million before he died in March 2025. This generous billionaire gift included a beautiful mansion, a luxury yacht, valuable land, and a large education fund for her children. The news caught the attention all over Asia. Who is Cathy Chui – The Hundred-Billion Daughter-in-Law? Cathy Chui is a former actress turned socialite and philanthropist in Hong Kong. She is married to Martin Lee, the younger son of the late tycoon Lee Shau Kee, who was famously known as Hong Kong's second richest man and nicknamed 'Asia's Warren Buffett'. Cathy and Martin tied the knot in a grand wedding ceremony in 2006 that was widely reported as the "wedding of the century." Since then, Cathy has earned a name for herself not only for her high-profile lifestyle but also for her charitable contributions. Due to the lavish presents she received over the years, she became known in the media as the 'Hundred-billion daughter-in-law.' What Did the Billionaire Gift Include? During her 19-year marriage, Cathy Chui was given many expensive gifts by her billionaire father-in-law, Lee Shau Kee. These were not just luxury items, but valuable assets that together were worth over $250 million. Here's a look at some of the gifts Cathy received: A luxurious HK$110 million yacht A high-end mansion located in a prestigious Hong Kong neighbourhood Land worth HK$1.82 billion An education fund worth HK$50 million set aside for Cathy's children These lavish presents symbolised Lee Shau Kee's affection for Cathy, who also happens to be the only daughter-in-law in the Lee family. The gifts were often presented on special occasions, especially after the birth of each of her four children. Why Cathy Chui Is So Well-Known in Hong Kong Before her marriage, Cathy Chui was a popular actress, but after marrying into one of Hong Kong's wealthiest families, she stepped away from the entertainment industry. She later focused on philanthropy and social causes. Tatler Asia described her as a leading figure in charitable work, and she received the amfAR Award of Courage in 2018 for her contributions to society. Cathy Chui's transformation from an actress to a celebrated philanthropist and Hong Kong socialite has inspired many. Her status as the Hundred-billion daughter-in-law is not just because of the wealth she married into, but also due to the deep respect she has earned for her charitable work and dedication to family. Lee Shau Kee's Generosity Extended Beyond His Family Lee Shau Kee didn't just show kindness to his family. As reported by the South China Morning Post, in 2015, after his grandson was born, he gave HK$10,000 in cash to each of his 1,500 employees. This generous act showed the loyalty and care he believed in throughout his life. At the time of his passing on March 17, 2025, Lee Shau Kee was 97 years old and had an estimated net worth of $23.2 billion, according to Bloomberg. His real estate empire, Henderson Land Development, played a major role in shaping Hong Kong's skyline. After his death, his fortune was split between his two sons, Peter Lee and Martin Lee. A Billionaire Gift That Shocked Hong Kong The incredible billionaire gift received by Cathy Chui before the death of her father-in-law is a reminder of the wealth and legacy of the Lee family in Hong Kong. From a mansion, land, and yacht to a sizable education fund, these gifts showcase the extraordinary lifestyle of the Hundred-billion daughter-in-law and underline the lavish standards set by the late Lee Shau Kee. This story continues to capture public attention, as people remain fascinated by the wealth, legacy, and grand gestures of one of Hong Kong's most powerful families. For the latest and more interesting financial news, keep reading Indiatimes Worth. Click here.
Hindustan Times
22-05-2025
- Business
- Hindustan Times
Hong Kong billionaire gave gifts worth over $250 million to daughter-in-law before his death: report
Hong Kong socialite Cathy Chui received gifts worth over $257 million from her billionaire father-in-law before his death in March this year. According to a report in The Standard, property tycoon Lee Shau Kee gifted Cathy a yacht, a mansion, an education fund for her children and land worth millions of dollars. Cathy Chui is the wife of Martin Lee, the younger son of Hong Kong's second richest man, Lee Shau Kee. Cathay and Martin tied the knot in 2006 in what the media dubbed "the wedding of the century," as per a report in VnExpress. Cathy used to be an actress before her marriage to Martin. She is today a well-known socialite and philanthropist in Hong Kong. Tatler Asia describes her as 'a lodestar in the realm of philanthropy.' She has been conferred with several awards recognising her contributions, including the amfAR Award of Courage in 2018. A post shared by Henderson Land (@hendersonlandhk) Cathy Chui is the only daughter-in-law of the billionaire Lee family. Over her 19 years of marriage, Cathy gave birth to four children. Each birth was celebrated lavishly, and her father-in-law sent her extravagant gifts for each child. The gifts included a mansion, a HK$50 million education fund, land worth HK$1.82 billion and a HK$110 million yacht. It was these gifts that earned her the nickname of 'Hundred-billion daughter-in-law' in tabloids. Lee Shau Kee did not just lavish gifts on his daughter-in-law. According to a report in SCMP, he also handed out HK$10,000 in cash to each of his 1,500 staff members after the birth of his grandson in 2015. Lee Shau Kee was Hong Kong's second-richest man, often called 'Asia's Warren Buffett'. He was a real estate tycoon and majority owner of Henderson Land Development. He died on March 17, 2025 at the age of 97. At the time of his death, his fortune was estimated to be $23.2 billion, according to Bloomberg. After his death, his fortune was divided between his two sons - Peter and Martin.
