Hong Kong-listed CK Hutchison Holdings Ltd’s shares dropped by the most in nearly two weeks following news its Hong Kong billionaire owner Li Ka-shing is considering delaying the signing of a controversial deal to sell his Panama Canal ports to a consortium including BlackRock Inc.

The stock fell as much as 4.7 percent Monday, the most since March 18. The slide has pared its year-to-date gain to 5.5 percent, versus the benchmark Hang Seng Index’s 16 percent rally.

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China’s top market regulator said on Friday it will launch a review of the proposed sale related to Panama ports by CK Hutchison Holdings.

CK Hutchison Holdings announced on March 4 that it had agreed “in principle” to sell a 90 percent stake of its Hutchison Port Group to a consortium led by the United States investment firm BlackRock for $22.8 billion.

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Initially, the company anticipated signing the deal, if completed, on April 2.

Separately, the board of CK Hutchison said on Monday it has not made any decision on its global telecommunications business, in response to media reports about a potential spin-off listing of the assets.

READ MORE: CE: CK Hutchison’s Panama ports deal should comply with the law

"From time to time, the Group receives proposals and explores and evaluates opportunities that may be available, with a view to enhancing long term value to shareholders, including possible transactions relating to the assets and operations of the company's global telecommunication businesses," the board said in a stock exchange filing.

A spin-off listing would be among those options, according to the filing.

The board said no decision has been made about any transaction and there is no certainty a transaction will take place.