{"id":31559,"date":"2022-07-08T04:49:40","date_gmt":"2022-07-08T07:49:40","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=31559"},"modified":"2026-04-23T07:02:18","modified_gmt":"2026-04-23T10:02:18","slug":"suncity-shares-jump-by-137-after-trade-resumes","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/suncity-shares-jump-by-137-after-trade-resumes","title":{"rendered":"Suncity shares jump by 137% after trade resumes"},"content":{"rendered":"\n<p>Company shares have begun trading again after nearly two months.<\/p>\n\n\n\n<!--more-->\n\n\n\n<p>Macau.- <a rel=\"noreferrer noopener\" href=\"https:\/\/focusgn.com\/asia-pacific\/suncity-resumes-trading-on-the-hong-kong-stock-exchange\" target=\"_blank\">Suncity Group Holdings Ltd<\/a>\u00a0shares jumped by 137 per cent after resuming trading on the Hong Kong Stock Exchange,\u00a0closing at HK$0.13. That said, the stock price remains down 97 per cent from 2007 levels, when it was trading just below HK$7.00.\u00a0<\/p>\n\n\n\n<p><a target=\"_blank\" href=\"https:\/\/focusgn.com\/asia-pacific\/andrew-lo-takes-control-of-suncity-group\" rel=\"noreferrer noopener\">Andrew Lo Kai Bong<\/a>, Suncity Group Holdings executive director, and his partners control 74.98 per cent of the company&#8217;s shares. He is now the lead lender to Suncity Group Holdings, having secured a HK$300m (US$38.2m) loan from former group creditors.<\/p>\n\n\n\n<p>Suncity said<strong> it can now make mandatory offers to all remaining minority shareholders<\/strong> in accordance with stock exchange rules. However, it also said it requires the acquisition and merger panel to determine the correct price for the securities.<\/p>\n\n\n\n<p>Suncity subsidiary <strong>Summit Ascent\u00a0<\/strong>also resumed trading and rose 80 per cent on the day to $0.08.<\/p>\n\n\n\n<p>In 2021, the company was heavily impacted by the arrest of former CEO\u00a0<a rel=\"noreferrer noopener\" href=\"https:\/\/focusgn.com\/asia-pacific\/suncity-group-chairman-arrested-in-macau\" target=\"_blank\">Alvin Chau Cheok Wa<\/a> over cross-border gambling and money laundering accusations. Alvin Chau Cheok Wa\u2019s trial now has a start date, with Macau\u2019s Court of First Instance scheduled to open proceedings on\u00a0<strong>September 2.<\/strong><\/p>\n\n\n\n<p>According to TDM Radio, Chau Cheok Wa could face between eight and 15 years in prison for the alleged crimes.&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Company shares have begun trading again after nearly two months.<\/p>\n","protected":false},"author":176,"featured_media":10754,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"Suncity Group Holdings Ltd shares resumed trading on the Hong Kong Stock Exchange, experiencing a significant 137% surge despite remaining substantially below historical highs. This follows a period of suspension and the company's restructuring, including a new lead lender and mandatory offers to minority shareholders, amidst ongoing legal proceedings against its former CEO, Alvin Chau Cheok Wa, in Macau.","focusai_entities":"Suncity Group Holdings Ltd, Andrew Lo Kai Bong, Summit Ascent, Alvin Chau Cheok Wa, Hong Kong Stock Exchange, Macau\u2019s Court of First Instance, TDM Radio","focusai_location":"Macau, Hong Kong","focusai_target_profile":"ceo_executive (0.9), regulator (0.9), compliance_legal (0.9), operator_casino (0.75), investor_analyst (0.95), supplier_vendor (0.7), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Suncity Valuation Impact?","query":"What are the long-term valuation implications for Suncity Group Holdings given the current share price recovery, its substantial historical decline, and the ongoing legal overhang from the former CEO's trial?"},{"label":"Regulatory Compliance Post-Resumption?","query":"How will the Hong Kong Stock Exchange's acquisition and merger panel determine the fair price for Suncity's securities, and what are the specific regulatory compliance hurdles for the mandatory offers to minority shareholders?"}],"footnotes":""},"categories":[16338,163],"tags":[23702],"class_list":["post-31559","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-east-asia-news","category-finance-news","tag-suncity-group"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/31559","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\/176"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=31559"}],"version-history":[{"count":3,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/31559\/revisions"}],"predecessor-version":[{"id":31582,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/31559\/revisions\/31582"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/10754"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=31559"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=31559"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=31559"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}