Concentrating on cruise line
Genting Hong Kong has announced plans to delist its shares from the Singapore Stock Exchange as of April 17 2018. The Malaysia-based casino operator advised stockholders who want to continue to trade Singapore-registered shares on the Hong Kong Exchange that they have until March 29 to transfer them to Hong Kong’s Central Clearing and Settlement System, reported GGRAsia.
“Shareholders’ voting rights and entitlement to dividends will not be affected by the delisting,” said the company in a November 13 filing.
Genting Hong Kong cited its intention “to focus its efforts and resources on its core business activities relating to the operation of cruise ships in Asia (in particular, North Asia).
“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 Hong Kong Stock Exchange will enhance the company’s profile to North Asian investors,” the firm said in October when it first announced the plan.
Genting Hong Kong plans to expand its cruise business and has developed a three-brand portfolio of cruise lines serving different parts of the market: Crystal Cruises for what it terms the ultra-luxury segment; Dream Cruises for what it describes as the premium segment; and Star Cruises for the “contemporary” segment.
