Macau Legend Development Ltd halts trading in shares

By Violeta Prockyte

Macau Legend Development Limited announced it will be halting trading in the shares of the Stock Exchange of Hong Kong Limited from 9am on September 14, 2020. The trading halt was implemented “pending the release of an announcement of inside information of the Company pursuant to the Hong Kong Code on Takeovers and Mergers.” The company didn’t provide additional information at this time. 

Macau Legend operates the Macau Fisherman’s Wharf and the Savan Legend Resort in Laos, and according to GGRAsia, there have been parties that are interested in acquiring the Fisherman’s Wharf venue. In August, Macau Legend’s CEO Melinda Chan Mei Yi assured the company is not actively looking to sell the venue but confirmed the interest is there. Macau Legend reported an HKD550.2m ($71m) loss for H1 2020, compared to HKD107.5m for the same period the previous year. 

Macau Legend is not the only company to halt its trading. Get Nice Holdings issued a similarly worded notice, stating, “trading in the shares of the Company on The Stock Exchange of Hong Kong Limited will be halted with effect from 9:00 a.m. on 14 September 2020 pending the release of an announcement in relation to the Hong Kong Code on Takeovers and Mergers, which is inside information of the Company.” Get Nice used to own Waldo casino in Macau and is now preparing for a bid for Nagasaki’s IR. 

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