Hong Kong-listed Summit Ascent Holdings Ltd. announced last week that its chief shareholder, First Steamship Co. Ltd., as well Chairman Kuo Jen Hao are considering selling their stakes in the company.
Summit Ascent is the lead developer of the Tigre de Cristal resort in Russia’s Primorye entertainment zone, near the Far East port city of Vladivostok. Tigre de Cristal operates the only casino in the zone, though others are in development.
In a filing to the Hong Kong Stock Exchange, the company disclosed that the potential sellers “have been approached by a third party to acquire their entire shareholdings” in Summit Ascent. “They will inform the board once they come to a definitive decision in this respect.”
GGRAsia reports that Kuo has been chairman and a non-executive director of Summit Ascent since December 2017 and is also chairman and general manager of First Steamship. He holds a 6.44 percent personal stake in Summit Ascent.
