The 13 calls for trading halt

Luxury hotel and casino company The 13 Holdings has requested a trading halt on the Hong Kong Stock Exchange, effective Friday, October 20, 2017.

The company said the halt was pending the release of an announcement on inside information of the company. It did not elaborate further.

Earlier this year, The 13 Holdings Ltd. missed its July 31 deadline to open its hotel, a condition of its HK$3 billion (US$384 million) loan from Bank of Communications Co., according to a report from Bloomberg.

Speaking with people familiar with the matter, Bloomberg reported that the $1.6 billion luxury hotel is aiming to open before the end of the year.

In July, MGTO director Maria Helena de Senna Fernandes told local media that the MGTO was still waiting for the request to inspect the property and start the licensing process.

“All documents are already approved but we’re still awaiting the request to inspect the property. Without the request we can’t initiate the process to grant a license,” said Fernandes.

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