Macau junket room promoter Iao Kun Group Holding Co Ltd has made a formal application to list in Hong Kong, it said in a press statement issued in New York.
As GGRAsia reported on Thursday, the listing will be by “introduction”.
Iao Kun added that the application is subject to an initial three-day review by the Hong Kong Stock Exchange.
Listing by introduction is the same method used by Nasdaq-listed Macau casino developer Melco Crown Entertainment Ltd when it made a dual listing in Hong Kong in December 2011.
In such a process, a company that has shares issued on another exchange can – subject to local regulatory approval – list its shares in Hong Kong without raising new funds or issuing new shares.
Asia Entertainment & Resources Ltd – as Iao Kun was previously known – had an initial public offering on Nasdaq on August 15, 2008, with a launch priced at US$6.00 per share. At the close of business on Thursday New York time, Iao Kun was trading at US$3.06 per share, a fall of 2.24 percent on the day.
May 24, 2019Las Vegas Sands Corp is only in the running for a big-city Japan casino licence, said the group’s managing director of global development, George Tanasijevich (pictured), in an interview with...
May 24, 2019
"We like Japan. We like all areas…but it is a matter of what the local government and the local people really want"
Ted Chan Ying Tat
Chief operating officer of Galaxy Entertainment Japan