The company paid HK$0.069 (US$0.00892) per share for the balance of shares.
Hong Kong.- LET Group Holdings has reported that Major Success Group has acquired 5,017,604,857 of its shares – approximately 75.25 per cent of all issued shares. The company controlled by Andrew Lo Kai Bong, a former business associate of ex-Macau junket boss Alvin Chau Cheok Wa, paid HK$0.069 (US$0.00892) per share after making an original offer of HK$0.0029 per share.
LET Group has been interested in several casino projects in the Asia Pacific region, including Vietnam and the Philippines. In September, the company said it aimed to devote resources to building world-class integrated resorts for Asia’s emerging middle classes. It sees the Philippines as the country with the highest potential to generate returns with minimal risk.
The company also has interests in hotel and gaming operations in Tigre de Cristal, an integrated resort in Russia’s Primorye Region, through Hong Kong-listed Summit Ascent.