History
Hutchison Whampoa was originally two companies founded in 19th century, namely Hong Kong and Whampoa Dock, established in 1863 by British merchant John Duflon Hutchison, and Hutchison International in 1877. Hutchison International, under Colonel Sir Douglas Clague (1917–1981), gained controlling interest of Hong Kong and Whampoa Dock in the 1960s.
In 1977, Hutchison acquired all stakes of Hong Kong and Whampoa Dock and became Hutchison Whampoa Limited.
Although Hutchison had a portfolio of valuable real estate interests in docks and retail ventures, the company ran into trouble, and had to be rescued by The Hongkong and Shanghai Banking Corporation. The bank took a 22% stake in the company, and had Clague replaced.
On 25 September 1979, at the close of trade in London, the Bank announced it was selling its stake in Hutchison to Cheung Kong for HK$639 million.
On March 2011, Hutchison Port Holdings Trust (HPHT) announced that the company will IPO through Singapore Exchange for about $5.4 billion. It will be the largest offering in South East Asia and surpass Petronas Chemicals offering at about $4.1 billion.
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