Hutchison-backed trust prices IPO above the mid-point

The Hong Kong conglomerate has flagged an intention to spin off its container ports assets in Hong Kong and Guangdong for a separate listing that market sources estimate could raise as much as $5 billion to $7 billion.

Eight cornerstones will buy $1.62 billion worth of the deal, while the preferential offering will account for at least $388 million to $460 million.

Numerical parity is possible, but it would be a departure for Hutchison Whampoa to forsake a control position in a potential telco JV with Vimpelcom

Hutchison Whampoa secures £3.1 billion of investments from GIC, Canada Pension Fund, and three other funds in exchange for a 33% stake in the combined British O2 and Three business.

Hutchison Whampoa agrees to pay up to £10.25 billion for Telefonica's O2 and is in talks with sovereign wealth funds about offloading a stake of up to 30% in the UK mobile phone group.

Li Ka-shing's overseas diversification spree shows no sign of slowing down with Hutchison Whampoa mulling its chunkiest acquisition ever — that of UK mobile operator O2.