Melco Crown delists from Hong Kong Exchange

Australian gambling operator Melco Crown has issued a corporate statement, confirming that conditions for its delisting from the Hong Kong Stock Exchange had been met as of 26 June.

Today will represent the last day of trading by Melco Crown, as the operator expects to be fully withdrawn from the Asian exchange by 4pm Friday 3 July.

In January Melco Crown governance had submitted the application to voluntary delist from the Hong Kong Exchange, citing reasons of cost and utility and stating that the company had not found a lack “appropriate opportunities to raise additional equity in Hong Kong” and the “very limited” volume of trading in its shares on the exchange.

Melco Crown operator of casino enterprises in Macau and the Philippines, stated that it would allow its investor the option to transfer their stock onto its primary listing on the US Nasdaq exchange. The operator will further bear the costs of holding shares in a depositary bank for a period of 60 days following its last day of trading.

Melco Crown further announced last week that it had entered an amendment of its loan facilities, which entitled the business to a total $1.75 billion credit facility supplied via a syndicate of banks.