Bails ship after only three years
Melco to delist from Hong Kong stock market
(Macau).- Melco Crown Entertainment has applied to delist from the Hong Kong stock exchange due to the fact that it is limiting their opportunities to raise funds.
2015-01-06
Reading time 36 seg
(Macau).- Melco Crown Entertainment has applied to delist from the Hong Kong stock exchange due to the fact that it is limiting their opportunities to raise funds.
Sources said that its listing in Hong Kong is costing the company too much money and that they are suffering from the onerous compliance obligations required to be listed in Hong Kong.
The request to delist comes only three years after the company listed themselves on the Hong Kong exchange. Currently they are also listed on the US Nasdaq where they have been since December 2006.
Having endured a terrible year in 2014 for both Melco and other Macau operators that has seen 40% of their share value evaporate in the first-ever year of revenue decline in the world's largest gambling hub. In 2013, Macau operators enjoyed a 19% jump in revenue, compared to a drop of 2.9% for 2014; the first in over a decade.
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