Cheung Kong raises funds for new train set

Last week Hong Kong tycoon Li Ka-shing announced plans to re-organize and streamline his sprawling empire to unlock value and enhance corporate transparency.

This week, he is back again with an acquisition and equity fundraising that underscores the focus his new conglomerate, Cheung Kong Hutchison Holdings CKH Holdings, will take.

An upsized $600 million top up placement by Cheung Kong Infrastructure CKI was completed after the market’s close on Tuesday, with proceeds being used to part fund the acquisition of Britain’s Eversholt Rail from its three private equity owners.

This purchase, which has an enterprise...