Mogul becomes Golden Harvest bigwig

World Brief

Tycoon Li Ka-shing has become the second-largest shareholder in filmmaker/distrib Golden Harvest Entertainment, behind founder and chairman Raymond Chow, who holds just over 28%.

Li, Asia’s richest person, bought Acer’s 17% shareholding late last week for HK$34.6 million ($4.4 million). He now holds 20.1%.

Golden Harvest is still pursuing talks with third parties other than Li interested in buying a controlling stake in the company.

Shares were suspended from trading on the Hong Kong Stock Exchange on May 6 at the request of Golden Harvest and resumed trading last Friday.

A spokesperson for Li’s Cheung Kong (Holdings) was not available for comment nor was a representative from Golden Harvest.

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