The firm halted the trading of its shares on Monday morning pending the revelation of news related to takeovers and mergers regulation. <\/p>\n\n\n\n\n\n\n\n
Macau.-\u00a0Macau Legend Development temporarily suspended\u00a0the trading of its shares on the Stock Exchange of Hong Kong on Monday morning.<\/p>\n\n\n\n
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\u201d the firm said in a filing. <\/p>\n\n\n\n
Last month, it emerged that the company had received interest from third parties about there possibility of acquiring Macau Fisherman\u2019s Wharf, its waterfront gaming and tourism complex located close to the Outer Harbour Ferry Terminal. <\/p>\n\n\n\n
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. <\/p>\n\n\n\n
Macau Legend made net losses of US$70.9 million<\/em><\/strong><\/a> in the first half of 2020 and has seen the development of its integrated resort<\/a><\/em><\/strong> in Cape Verde.<\/p>\n","protected":false},"excerpt":{"rendered":" The firm halted the trading of its shares on Monday morning pending the revelation of news related to takeovers and mergers regulation. <\/p>\n","protected":false},"author":2,"featured_media":9972,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"Macau Legend Development temporarily suspended share trading on the Stock Exchange of Hong Kong, citing an impending announcement related to the Hong Kong Code on Takeovers and Mergers. This follows prior third-party interest in acquiring its Macau Fisherman\u2019s Wharf complex, despite the company's denial of active divestment. The firm reported significant net losses in H1 2020.","focusai_entities":"Macau Legend Development, SJM, Babylon Casino, Legend Palace Casino, Stock Exchange of Hong Kong","focusai_location":"Macau, Hong Kong, Cape Verde","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":"M&A Regulatory Impact?","query":"What specific provisions of the Hong Kong Code on Takeovers and Mergers are most pertinent to Macau Legend Development's current situation, and what are the potential regulatory implications for any acquiring entity?"},{"label":"Asset Divestment Strategy?","query":"Given Macau Legend Development's H1 2020 net losses and prior third-party interest, how might a strategic divestment of Macau Fisherman\u2019s Wharf impact the company's balance sheet and future operational focus, particularly concerning its Cape Verde integrated resort?"}],"footnotes":""},"categories":[16338,163],"tags":[22593,22127],"class_list":["post-9970","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-east-asia-news","category-finance-news","tag-macau-legend","tag-stocks"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/9970","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=9970"}],"version-history":[{"count":3,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/9970\/revisions"}],"predecessor-version":[{"id":19710,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/9970\/revisions\/19710"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/9972"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=9970"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=9970"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=9970"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}