The story
Public Finance (H.K.) Limited (Chinese: 萬衆財務(香港)有限公司) was incorporated on 30 January 1973. On 30 July 1991, the company changed its name to Lippo Limited (SEHK: 226).
In 1998 via subsidiary Lippo China Resources (SEHK: 156), the group formed a joint venture Lippo CRE (Financial Services) Limited with China Resources Enterprise to act as the parent company of The HKCB Bank Holding Limited (now known as Hongkong Chinese Limited, SEHK: 655), which in turn the parent company of Hongkong Chinese Bank for 60.6% shares. The price was about HK$1.2 billion.
In 2001, Lippo China Resources re-acquired 50% shares of Lippo CRE (Financial Services) Limited (which owned 58.78% shares of HKCB Bank Holding), as well as an additional 5.84% shares of HKCB Bank Holding from China Resources Enterprise for about HK$1.8 billion, effectively buying 35.23% interests in HKCB Bank Holding. In the same year HKCB Bank Holding sold the entire share capital of Hongkong Chinese Bank to CITIC Ka Wah Bank for HK$4.2 billion.
In December 2016, second-tier subsidiary Auric Pacific Group (a listed company majority owned by Lippo China Resources) was privatized by Lippo Limited's chairman Stephen Riady (son of Mochtar Riady) and his son-in-law Andy Adhiwana (via a SPV Silver Creek Capital) for S$1.65 per shares.
From Wikipedia’s article on Lippo Limited, shared under CC BY-SA 4.0.4