{"id":10183,"date":"2020-09-21T22:59:04","date_gmt":"2020-09-21T22:59:04","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=10183"},"modified":"2026-04-24T01:39:58","modified_gmt":"2026-04-24T04:39:58","slug":"chan-to-make-offer-for-macau-legend-shares","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/chan-to-make-offer-for-macau-legend-shares","title":{"rendered":"Chan to make offer for Macau Legend shares"},"content":{"rendered":"\n

The junket operator is expected to place a bid for all of the company’s publicly traded shares under HK\u2019s\u00a0Takeover\u00a0Code.\u00a0\u00a0<\/p>\n\n\n\n\n\n\n\n

Macau.-\u00a0Chan Weng Lin, chief executive officer of the Macau junket Tak Chun Group, could soon increase his stake in casino operator Macau Legend Developers.\u00a0\u00a0<\/p>\n\n\n\n

Last week, a company he owns, Perfect Achiever Group, acquired a\u00a020.65 per cent<\/a><\/em><\/strong> stake in the casino operator, making\u00a0Chan its largest stakeholder. He already owned about 0.11 per cent of the operator’s shares.<\/p>\n\n\n\n

Now under Hong Kong\u2019s\u00a0Takeover\u00a0and Merger Code, Perfect Achiever Group will have to make a mandatory unconditional cash offer for the remainder of the operator’s publicly trades shares.\u00a0<\/p>\n\n\n\n

In a filing on Monday, the company said it will make an offer of HK$1.05 (US$0.13) in cash for each issued share controlled by public stakeholders and one company director. This could elevate Chan\u2019s stake in Macau Legend to over 49 per cent of the total capital.\u00a0\u00a0<\/p>\n\n\n\n

The offer will not be made to\u00a0executives\u00a0and senior directors of Macau Legend, including the operator SJM, who have already signed an agreement not to dispose of their shares.\u00a0\u00a0<\/p>\n\n\n\n

Founders\u00a0David Chow Kam Fai and Melinda Chan Mei Yi have confirmed that after the offer moves forward, they will remain<\/a><\/em><\/strong> company\u00a0co-chairman and executive director, and chief executive officer respectively. Chow will also become a non-executive director, the filing said.\u00a0\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"

The junket operator is expected to place a bid for all of the company’s publicly traded shares under HK\u2019s\u00a0Takeover\u00a0Code.\u00a0\u00a0<\/p>\n","protected":false},"author":2,"featured_media":10185,"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 Tak Chun Group, has significantly increased his stake in Macau Legend Developers via Perfect Achiever Group, triggering a mandatory unconditional cash offer for the remaining publicly traded shares under Hong Kong's Takeover Code. This move could elevate his total ownership to over 49%, with existing founders retaining executive roles.","focusai_entities":"Chan Weng Lin, Tak Chun Group, Perfect Achiever Group, Macau Legend Developers, SJM, David Chow Kam Fai, Melinda Chan Mei Yi","focusai_location":"Macau, Hong Kong","focusai_target_profile":"ceo_executive (0.9), regulator (0.85), compliance_legal (0.9), operator_casino (0.8), investor_analyst (0.95), supplier_vendor (0.7), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Impact on Macau Legend Strategy","query":"How might Chan Weng Lin's increased stake and potential majority control influence Macau Legend Developers' long-term strategic direction, particularly concerning its gaming verticals and capital allocation?"},{"label":"Regulatory Scrutiny Implications","query":"What are the specific regulatory compliance requirements and potential governance framework adjustments that Macau Legend Developers must address following this significant ownership change under the HK Takeover Code?"}],"footnotes":""},"categories":[161,16338,163],"tags":[257,22593,291],"class_list":["post-10183","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-daily-news","category-east-asia-news","category-finance-news","tag-macau","tag-macau-legend","tag-shares"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/10183","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=10183"}],"version-history":[{"count":2,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/10183\/revisions"}],"predecessor-version":[{"id":10196,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/10183\/revisions\/10196"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/10185"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=10183"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=10183"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=10183"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}