By Clarence Leong

CK Hutchison Holdings Ltd. said Thursday that it is set to offload its remaining stake in the parent of AMTD Digital Inc., a little-known Asian fintech company that has become the latest stock sensation shortly after listing on the New York Stock Exchange.

Hong Kong-based conglomerate CK Hutchison said it doesn't hold any shares in AMTD Digital and has no business dealings with it. It had sold a majority of its shares in AMTD Group, which owns AMTD Digital, nearly a decade ago, and it currently holds a stake of less than 4%, it added.

The company said it has "entered into negotiations on the sale of its remaining shares in AMTD Group."

AMTD Digital went public on July 15 after pricing its American depositary shares at $7.80 apiece to raise $125 million. It last closed at $1,100 a share on Wednesday, after touching an all-time high of $2,555.30 on Tuesday.

Write to Clarence Leong at clarence.leong@wsj.com

(END) Dow Jones Newswires

August 04, 2022 05:36 ET (09:36 GMT)

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