Melco looks to de-list from HKSE on July 3

Melco Crown Entertainment Ltd is expected to end its listing on the Hong Kong Stock Exchange on July 3, with the last day of trading on June 29, the company announced.

Since listing three years ago on the HKSE, the operator of the newly launched City of Dreams Manila has cited limited fundraising opportunities and burdensome compliance obligations and costs as reasons to de-list from the exchange.

“The Company would like to highlight that, subject to the conditions of the proposed de-Listing as mentioned in the circular being fulfilled, the expected time of withdrawal

of listing on the Stock Exchange would occur at 4:00 p.m. on Friday, July 3, 2015.”

The filing says that an extraordinary general meeting will be held on March 25 for shareholders to vote on the proposed delisting.

The company added that for a period of 60 days following the last dealing date, it will “bear the costs of the Shareholders for their deposit of the Shares with the Depositary and the corresponding issuance of ADSs.”

 

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