Genting Hong Kong to delist from Hong Kong Stock Exchange
Genting Hong Kong will be delisted due to its insolvency.
Hong Kong.- Genting Hong Kong has announced through a company filing it has cancelled its listing on the Hong Kong Stock Exchange as it is no longer suitable for listing. The last day of the listing of the shares will be May 15, with the listing to be cancelled from 9.00am on May 16.
The company said it will not apply for a review of the delisting decision made by the Listing Committee. It said: “All shareholders and investors of the company should note that after the last listing date, whilst the share certificates of the shares of the company will remain valid, the shares will not be listed on, and will not be tradeable on the Stock Exchange. Thereafter, the company will no longer be subject to the listing rules.”
In January 2022, Genting filed for liquidation after a German court rejected a request to release US$88m for its shipyard unit MV Werften. Last July, the cruise ship operator reported that various non-core subsidiaries had entered into insolvency proceedings in the relevant jurisdictions, including Australia, Hong Kong, Malaysia, Singapore and the United States.
Last September, Resorts World Cruises Pte Ltd, the company launched by Genting Hong Kong founder Lim Kok Thay in April, purchased Star Market Holdings, the owner of Genting Hong Kong’s cruise trademarks.