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On May 11th, the Hong Kong Stock Exchange disclosed that Li Ka-shing's shareholding in Postal Savings Bank of China (HK1658) had decreased from 10.08% to 9.97%. Li sold nearly 22.493 million shares the bank at an average price of HKD 5.43 per share, cashing out HKD 122 million.

Following the news, Postal Savings Bank of China closed 2.6% lower on Friday.

According to Xinhua Finance, a person in charge of investor relations management at Postal Savings Bank of China responded on the evening of May 11th that Li Ka-shing Foundation has always maintained a good relationship with the bank and has no objection to the bank’s business development. The foundation was established to promote charitable public welfare projects, and all investment income is used for charitable purposes. The foundation’s reduction of Postal Savings Bank of China’s shares this time is a routine financial arrangement.

According to the Hong Kong Stock Exchange’s previous disclosure, Li Ka-shing Foundation reduced its holdings of 50,000 shares of the bank on September 29th, 2022, at an average price of HKD 4.71 per share, with the market value amounting to approximately HKD 235,500. After the reduction, Li Ka-shing Foundation’s shareholding in the bank dropped to 10.99%, holding 2.184 billion shares.