LET Group and Summit Ascent to be delisted from Hong Kong Stock Exchange
The two casino investment firms failed to meet resumption requirements.
Hong Kong.- LET Group Holdings Limited and its subsidiary Summit Ascent Holdings Limited will be removed from the Hong Kong Stock Exchange on September 1, 2025, after failing to comply with resumption conditions. The Listing Committee confirmed the decision after neither company resumed trading before the July 10 deadline.
Both stocks have been suspended since early 2024 following compliance issues and board resignations. The firms said they would not request a review of the delisting decision.
Delisting will be effective from 9am, after which the companies will cease to be bound by Hong Kong listing rules, including corporate governance and financial reporting obligations. Share certificates will remain legally valid, meaning holders still own their shares but cannot sell them on the exchange. Shareholders have been advised to consult financial advisers
LET Group operates across Asia, with projects in Russia, Vietnam, the Philippines, and China. It is the parent company of Summit Ascent, which runs the Tigre de Cristal casino resort in Vladivostok. LET is also behind the under-construction LETX Resort in Manila’s Westside City, promoted through its Philippines-listed subsidiary Suntrust Resort Holdings Inc.
Last year, Hong Kong’s Securities and Futures Commission filed legal proceedings against LET Group and Summit Ascent, citing alleged misconduct by chairman Andrew Lo and seeking measures to protect minority shareholders.
