Li Ka-shing Strategy to Serve as Legend Chairman's Expansion Model

Legend Holdings Ltd. Chairman Liu Chuanzhi—owner of world’s fourth largest personal computer maker intends—to diversify its business through acquisitions, modelling his expansion plans after Hong Kong billionaire Li Ka-shing’s strategy, according to Bloomberg.

 

At a press conference attended by Bloomberg, Liu reveals that his strategy will resemble Li’s because Beijing- based Legend will target controlling stakes with the 10 billion yuan ($1.5 billion) it plans to invest beyond technology, property and fund management.

 

According to Bloomberg, Li, the 81-year-old chairman of Cheung Kong (Holdings) Ltd., became Hong Kong’s richest man by starting a plastics company in the 1950s and expanding into real estate, ports, energy and telecommunications across 54 markets. Li’s wealth was estimated to be $16.2 billion by Forbes Asia magazine in February, and is dubbed “Superman” by Hong Kong’s media because of his investing acumen.

 

According to Bloomberg, aside from Lenovo, Legend controls Hony Capital, a private- equity fund that manages $2.8 billion, and Beijing-based developer Raycom Real Estate. It owns a minority holding in Beijing Gao Hua Securities Co., which runs an investment- banking venture with Goldman Sachs Group Inc. in China.
 

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