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Industry: Email Alert RSS Feed$1.2 billion for new foundation
Community Action, Jan 24, 2005
HONG KONG -- Li Ka Shing, a man who went from the rice paddy to riches, announced that he was selling his 17,008,928 common shares of CIBC for approximately C$1.2 billion. Li Ka Shing (Canada) Foundation was established "in recognition of the warm welcome Canada has extended to me and to our Group of companies over the years." Through several foundations Li Ka Shing has provided grants, sponsorships and commitments of over C$1 billion for poverty, cultural and religious causes.
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The Li Ka Shing (Canada) Foundation will be the second largest charitable foundation in Canada.
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