Securities of two gambling companies in Macau – LET Group Holdings and Summit Ascent Holdings – may be delisted from the Hong Kong stock exchange due to the sale of casinos in Russia. Trading in shares was temporarily suspended on January 11. Messages Hong Kong Securities and Futures Commission (SFC).
LET and Summit Ascent are selling their assets in Russia for $116 million. The SFC fears that once the deal is completed, the companies may not have a business with sufficient operations to maintain their operations and ensure the listing status of their securities remains intact.
The regulator also noted that companies were required to agree a deal with shareholders, but this did not happen.
SFC asked LET and Summit Ascent to resolve these issues. The message states that there was no response.
Last week it became known that Yandex agreed to sell its business in Russia. More details about the deal – In the material “socialbites.ca”.
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