Genting Hong Kong Ltd has completed its delisting from the Singapore Exchange (SGX), returning instead to a single primary listing on the Hong Kong Stock Exchange (HKSE).
In a Tuesday announcement, the company said that trading of shares on the Singapore Exchange would be suspended from 09:00 on Wednesday 11 April 2018, meaning that the last day of trading was Tuesday 10 April.
Genting Hong Kong, which announced its intention to delist its secondary listing last October, said at the time that the move was aimed at focusing its efforts and resources on its cruise ship business in Asia and particularly North Asia, adding that it has undertaken “various initiatives to meet the growing demands of the Chinese market.”
“As a result, the company believes that it is desirous to increase the visibility of the company among the North Asian investors and envisages that maintaining a single primary listing on the main board of the HKSE, which will potentially increase the trading of the company’s shares on the HKSE, will enhance the company’s profile to North Asian investors,” it said.
Genting Hong Kong added that delisting from the SGX will reduce overhead costs and increase the liquidity of its shares on the HKSE.
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