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Genting Hong Kong to delist from SGX

Genting Hong Kong is looking to delist from the Singapore Stock Exchange and maintain only a single primary listing on the Hong Kong Stock Exchange.

Genting said a single listing in Hong Kong will increase the visibility of the company among North-Asian investors, and that it “intends 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 said the delisting will also eliminate some legal and compliance costs.

“The proposed delisting will eliminate the additional administrative overhead and costs of compliance associated with such SGX-ST requirements and allow the company to streamline its compliance obligations, reduce its legal and compliance costs, and focus its resources on its business operations,” said the company.

Additionally, Genting said it believes that the delisting will increase the liquidity of shares on HKSE, “thereby improving the effectiveness of any future capital raising activities to be undertaken by the company and enhancing shareholder value in the long term.”

The company has already received confirmation from SGX-ST, which noted that it has no objections to the proposed delisting.

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