Macau Legend suspends shares on HK exchange

The firm halted the trading of its shares on Monday morning pending the revelation of news related to takeovers and mergers regulation.  

Macau.- Macau Legend Development temporarily suspended the trading of its shares on the Stock Exchange of Hong Kong on Monday morning.

Trading was halted at 9am, “pending the release of an announcement of inside information of the company pursuant to the Hong Kong Code on Takeovers and Mergers” the firm said in a filing. 

Last month, it emerged that the company had received interest from third parties about there possibility of acquiring Macau Fisherman’s Wharf, its waterfront gaming and tourism complex located close to the Outer Harbour Ferry Terminal. 

The company denied it was actively looking to divest the property, where it manages two venues in association with SJM: Babylon Casino and Legend Palace Casino at the Legend Palace Hotel.  

Macau Legend made net losses of US$70.9 million in the first half of 2020 and has seen the development of its integrated resort in Cape Verde.