The Insider | Henderson Land chairman Lee Shau-kee unloads shares for first time since 1993

The buying rebounded while the selling among directors was flat based on filings on the Hong Kong stock exchange from December 4 to 8.

A total of 69 companies recorded 407 purchases worth HK$555 million (US$71.2 million) versus 11 companies with 27 disposals worth HK$244 million. The buy figures were up from the previous week’s 59 companies, 255 purchases and HK$321 million.

On the selling side, the number of companies was unchanged while the number of trades was down from the previous week’s 37 disposals. The sell value, on the other hand, was sharply up from the previous week’s sales worth HK$64 million.

Aside from directors, the buy-back activity surged with 39 companies that posted 170 repurchases worth HK$496 million based on filings from December 1 to 7. The figures were sharply up from the previous five-day total of 25 firms, 126 trades and HK$231 million.

There were several significant trades last week. Leading the pack was property tycoon Lee Shau-kee as he recorded his first sales in Henderson Land Development Co based on filings since 1993. Lee is chairman of Henderson Land. On the positive side, there were rare purchases in Target Insurance (Holdings), Zhong An Real Estate and CCT Fortis Holdings.

Lee sold 3.63 million shares of Henderson Land from December 1 to 5 at an average of HK$50.04 apiece. The trades reduced his holdings to 2.920 billion shares or 72.99 per cent of the issued capital. He previously acquired 580,000 shares on January 4 at HK$41.41 each. Prior to his trades this year, the chairman acquired 10.9 million shares from November to December 2016 at an average of HK$41.79 each, 28 million shares from January to July at HK$40.38 to HK$50.10 each or an average of HK$44.17 each and 442 million shares from April 2008 to December 2015 at HK$23.40 to HK$58.35 each or an average of HK$43.17 each. The stock closed at HK$48.25 on Friday.