Troubled Macau hotel operator The 13 Holdings Limited has announced plans to change the company name.
In a filing to the Hong Kong Stock Exchange, the board of directors revealed the proposal which would see the name of the company changed to South Shore Holdings Limited. The Chinese name would change from 十三集團有限公司 to 南岸集團有限公司.
The 13 Holdings said that the proposed name change “will provide a clear delineation between our corporate identity and that of our principal asset,” namely The 13 hotel in Cotai.
The name change is dependent upon approval by shareholders and of the Registrar of Companies in Bermuda.
The 13 Holdings this week wrapped up the issuance of rights issue shares which aims to raise HK$973 million for completion of The 13 hotel. It recently announced plans to launch casino operations at the unopened hotel by 31 March 2019 assuming it can obtain the relevant licenses.