halted trading<\/a><\/em><\/strong>\u00a0of its shares on the Stock Exchange of Hong Kong on Monday morning, stating that news was to come that would fall under the Hong Kong Code on Takeovers and Mergers.\u00a0\u00a0<\/p>\n\n\n\nChan already owned about 0.11 per cent of Macau Legend’s shares. Now an entity controlled by Chan and listed in the British Virgin Islands under the name Perfect Achiever Group has acquired a further 20.65 per cent stake for HKD1.34 billion (US$173.4 million). <\/p>\n\n\n\n
The group purchased just over 1.28 billion shares at a price of HKD1.05 per share. <\/p>\n\n\n\n
The biggest stakeholder in Macau Legend remains co-chairman David Chow Kam Fai, who controls almost 29.9 per cent of the company’s shares. <\/p>\n","protected":false},"excerpt":{"rendered":"
A firm listed in the British Virgin Islands under the name Perfect Achiever Group has made the acquisition for about US$173 million. <\/p>\n","protected":false},"author":2,"featured_media":10015,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"Chan Weng Lin, CEO of Macau junket Tak Chun Group, has significantly increased his stake in casino operator Macau Legend Development through his British Virgin Islands-listed entity, Perfect Achiever Group. The US$173.4 million acquisition of an additional 20.65 percent stake makes him the second-largest shareholder, triggering a trading halt on the Hong Kong Stock Exchange under takeovers regulations.","focusai_entities":"Chan Weng Lin, Tak Chun Group, Perfect Achiever Group, Macau Legend Development, David Chow Kam Fai, Stock Exchange of Hong Kong","focusai_location":"British Virgin Islands, Macau, Hong Kong","focusai_target_profile":"ceo_executive (0.9), regulator (0.85), compliance_legal (0.9), operator_casino (0.9), payments_fraud_aml (0.7), investor_analyst (0.95), supplier_vendor (0.75), journalist_researcher (0.95)","focusai_suggestions":[{"label":"Impact on Macau Legend","query":"What are the anticipated strategic and operational shifts for Macau Legend Development under Chan Weng Lin's increased influence, particularly concerning its gaming verticals and capital allocation?"},{"label":"Regulatory Scrutiny","query":"How will Macau's gaming regulator and the Hong Kong Stock Exchange assess the implications of a prominent junket CEO acquiring a substantial stake in a licensed casino operator, especially regarding governance frameworks and beneficial ownership transparency?"}],"footnotes":""},"categories":[157,16338],"tags":[257,22593],"class_list":["post-10013","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-news","category-east-asia-news","tag-macau","tag-macau-legend"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/10013","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=10013"}],"version-history":[{"count":3,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/10013\/revisions"}],"predecessor-version":[{"id":19709,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/10013\/revisions\/19709"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/10015"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=10013"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=10013"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=10013"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}