Hong Kong billionaire Michael Kadoorie has approached investors to raise at least $50 million (HK$389 million) to fund efforts to boost the city’s image, according to people familiar with the matter.
The chairman of CLP Holdings Ltd., the city’s top electricity provider, has in recent months pitched several high-profile business leaders on a project that aims to lift the city’s tourism sector, said the people, asking not to be identified discussing private conversations. Kadoorie has said he would commit $5 million, one person added.
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