Macau Legend stock drops after trading suspension warning

March 24, 2022 Macau Earnings & Filings

Shares in Macau Legend fell more than 10 percent in Hong Kong trading on Wednesday after the company warned its stock would be suspended from April 1st due to a delay in reporting its accounts.

The company, which operates Macau’s Fisherman’s Wharf complex and the Savan Legend Casino in Laos, said that it had been unable to finalize its 2021 results in accordance with the timeline set out by the Hong Kong Stock Exchange due to Covid restrictions.

Macau Legend said the relevant works would be continued and that the results would be completed as soon as possible.

The company stresses that its operations are normal, despite the delay.

Under Hong Kong’s listing rules, the 2021 results needed to be published before end-March after agreement with an auditor. The group had the option to publish unaudited results but said it had decided not to as they may not reflect the financial situation of the group.