GGRAsia – Genting HK stock ends Singapore trading on delisting there

Genting HK stock ends Singapore trading on delisting there

Apr 11, 2018 Newsdesk Latest News, Singapore, Top of the deck

Trading of shares in casino and casino cruise ship investor Genting Hong Kong Ltd via the Singapore Exchange was suspended with effect from 9am on Wednesday. The firm is delisting its shares from the Singaporean bourse on April 17, as previously announced.

The last day of trading of shares in Genting Hong Kong via the Singapore Exchange was on Tuesday.

Genting Hong Kong is maintaining its listing on the main board of the Hong Kong Stock Exchange.

Genting Hong Kong – a subsidiary of Malaysian conglomerate Genting Bhd – had first announced in October its plan for the voluntary delisting of its shares from the main board of Singapore Exchange. The firm said at the time it was to allow the firm “to focus its efforts and resources on its core business activities relating to the operation of cruise ships in Asia (in particular, North Asia)”.

A press release from Genting Hong Kong, issued on October 3, quoted the firm’s chairman and chief executive Lim Kok Thay as saying that “the consolidated trading of the company’s shares on the Hong Kong Stock Exchange arising from the proposed delisting is also expected to increase the liquidity of such shares… thereby improving the effectiveness of any future capital raising activities to be undertaken by the company”.