CKH (1 HK): Trading Full Ahead Of Supreme Court Ruling

• Panama’s Supreme Court is expected to make a decision shortly on whether CK Hutchison Holdings (1 HK) (”CKH”) will retain the concessions to operate two key Panama Canal ports.

• CKH and Panama’s Comptroller hold diametrically opposite views on the legitimacy of the 2021 licence renewal and operational compliance/status of these ports. To categorise the situation political is an understatement.

• The (largely) expected Panamanian pushback appears factored in, with the market looking further afield to the sale of the remaining 41 global ports. CKH is trading full here.