Genting HK to be delisted if it fails to remedy trading suspension issues
The Stock Exchange of Hong Kong has reported that Genting Hong Kong will be delisted from the bourse unless it fully complies with listing rules and resumes trading by July 17, 2023.
Hong Kong.- Genting Hong Kong will be delisted from the Hong Kong Stock Exchange if the cruise operator does not address issues that led to a suspension in trade of the company’s shares. It must fully comply with the bourse’s listing rules and resume trading by July 17, 2023.
Genting Hong Kong has been suspended from trading since January 18. It said it will make further announcements on progress as and when appropriate.
It said in a statement: “If the company fails to remedy the issues causing the trading suspension, fully comply with the listing rules to the stock exchange’s satisfaction and resume trading in the shares of the company by July 17, 2023, the listing division of the stock exchange will recommend the listing committee of the stock exchange to proceed with the cancellation of the company’s listing.
“Under Rules 6.01 and 6.10 of the listing rules, the stock exchange also has the right to impose a shorter specific remedial period, where appropriate.”
In January, Genting Hong Kong filed for liquidation after a German court rejected a request to release US$88m in funds for its German shipyard unit MV Werften. Soon afterwards, Tan Sri Lim Kok Thay stepped down as CEO of the company. Meanwhile, Colin Au has resigned as deputy chief executive officer, group president and executive director.
