Melco Crown to delist shares from Hong Kong

Melco Crown Entertainment says its Board approved a delisting from the Hong Kong exchange due to the high cost of maintaining a listing and lack of use for fund raising.

After the delisting, shareholders can either hold the shares, which will no longer be traded on the Hong Kong Exchange, or trade them for ADSs on the Nasdaq.

The delisting would need shareholder approval.

“Maintaining the listing of the shares on the Stock Exchange requires additional ongoing

regulatory compliance obligations and such requirements involve significant additional costs and administrative burden,” the company said in a regulatory filing.

It will retain its primary listing on the Nasdaq. The company has been listed in Hong Kong since December 2011.

 

Latest Intelligence

Latest issue

PATA CEO sees slow recovery, but optimism for future

AGB Podcasts