A quiet exit from PetroChina

PetroChinaƆs main corporate investors have been selling their holdings.

For some Hong Kong investors, the best way to invest is riding on the coat-tails of top tycoon Li Ka-shing on the basis that the man can do no wrong when it comes to making money. Hence, if you have got stock to shift and the markets not buying, Li is a man worth talking to. For many companies seeking listings in Hong Kong this year, getting the Li Ka-shing investment in the initial public offering IPO has been crucial to the success of the deal. Get him aboard and the fan club comes running.

This seems to have been the thinking when the mainland China government was having trouble getting the IPO...

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