• About Us
  • The Team
  • Advertise with Us

The latest news on the gaming industry in Asia

() () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () ()
  • Home
  • Macau
  • Philippines
  • Singapore
  • Japan
  • Rest of Asia
  • World
  • Industry Talk
  • Trends & Tech
  • iGaming
  • follow
    • Facebook
    • Twitter
    • RSS Feed
    • LinkedIn

Melco Crown proposes Hong Kong delisting

Jan 02, 2015 Newsdesk Latest News, Macau, Top of the deck  


Melco Crown proposes Hong Kong delisting

Macau-based gaming operator Melco Crown Entertainment Ltd wants to have its shares “delisted” – i.e. removed – from the Hong Kong Stock Exchange “for reasons of cost and utility”. An application for the voluntary withdrawal was submitted on Friday, the company said after market hours.

“We intend to retain the primary listing of ADSs [American depository shares] on the Nasdaq following the proposed [Hong Kong] delisting,” the firm said in a filing.

The exact timing of the operation has not been confirmed.

The firm’s Hong Kong stocks posted a price drop of 35 percent during 2014, ending the year at HKD65.75 (US$8.48). On Friday, Melco Crown’s shares dropped by 2.7 percent in Hong Kong trading.

In Macau, the firm is expanding the City of Dreams casino resort (pictured) in Cotai and building Studio City, due to open in mid-2015. Melco Crown is also a partner in City of Dreams Manila, a project that had a soft opening last month.

After the delisting, existing Melco Crown shareholders will have the option of either still keeping the shares or converting them into ADSs, which will continue to be traded on the Nasdaq in the United States.

Melco Crown said one of the reasons for the proposed delisting was the lack of “appropriate opportunities to raise additional equity in Hong Kong” and the “very limited” volume of trading in its shares on that exchange.

The firm added that maintaining the listing of the shares in Hong Kong “requires additional ongoing regulatory compliance obligations and such requirements involve significant additional costs and administrative burden”.

The delisting still needs to be approved by the company’s shareholders in an extraordinary general meeting. It also needs approval from the exchange’s listing committee.

All the six Macau casino concessionaires and sub-concessionaires are currently listed on the Hong Kong Stock Exchange. Only Melco Crown has a dual listing.

Melco Crown’s ADSs were listed on the Nasdaq Global Market in December 2006 and were upgraded to be traded on the Nasdaq Global Select Market in January 2009. Each ADS represents three shares.

In December 2011, the company completed a dual primary listing in Hong Kong and listed its shares on the main board of the stock exchange by way of introduction.

Last month, Melco Crown was dropped from the Nasdaq Q-50 Index due to its poor stock performance.


  • tweet
Related articles
  • Court says Okada Manila no need to complete SPAC merger
    Court says Okada Manila no need to...

    Sep 08, 2023  

  • Universal Ent counterclaims are desperate: 26 Capital
    Universal Ent counterclaims are...

    Mar 21, 2023  

More news
  • Strong Macau hotel bookings for autumn Golden Week
    Strong Macau hotel bookings for autumn...

    Sep 22, 2023  

  • Big players, tourists due for Golden Week say Macau experts
    Big players, tourists due for Golden...

    Sep 22, 2023  


Latest News

Strong Macau hotel bookings for autumn Golden Week

Strong Macau hotel bookings for autumn Golden Week

Sep 22, 2023  

A number of hotel properties at Macau casino resorts has already sold all or most of the rooms that are available on the open market, for most nights of the upcoming autumn Golden Week holiday...
Read More
Big players, tourists due for Golden Week say Macau experts

Big players, tourists due for Golden Week say Macau experts

Sep 22, 2023  

Philippines must up AML to exit FATF grey list says lawmaker

Philippines must up AML to exit FATF grey list says

Sep 22, 2023  

Sign up to our FREE Newsletter

UB8V5.qr.16(Click here for more)

Pick of the Day

”This year, so far, we will be starting [revamp] work at Grand Hyatt; then, we are looking at Countdown, and afterwards we will look at Altira and others”

Lawrence Ho

Chairman and chief executive of Melco Resorts



Most Popular

  • Golden Week Macau GGR to be 17pct up on rest of Oct: MSGolden Week Macau GGR to be 17pct up on rest of Oct: MS September 21, 2023
  • Grand Hyatt MICE revamp before year end: Melco CEOGrand Hyatt MICE revamp before year end: Melco CEO September 21, 2023
  • Melco to help Macau govt revitalise some Inner Harbour piersMelco to help Macau govt revitalise some Inner Harbour piers September 21, 2023
  • Strong Macau hotel bookings for autumn Golden WeekStrong Macau hotel bookings for autumn Golden Week September 22, 2023
Copyright 2014-2023 TEAM Publishing and Consultancy Ltd / All rights reserved
  • Code of Ethics
  • Privacy Policy
  • Useful Links
  • Contact Us