Macau junket operator LET soars after new major shareholder makes cash offer

LET group

15/09/2022 03:51

** Shares of Macau junket operator LET Group Holdings Ltd
 1383.HK , formerly Suncity Group Holdings, soar as much as
46.5% to HK$0.249, highest since July 25, as trading resumes
    ** Trading in stock had been suspended since Aug. 12, stock
to mark biggest daily pct gain since July 7 if gains hold
    ** Co says new controlling shareholder Lo Kai Bong and
parties acting in concert with him make cash offer of HK$0.069
per share for all outstanding shares not already
owned urn:newsml:reuters.com:*:nFWN30L1NU
    ** Lo Kai Bong and parties acting in concert with him hold
an aggregate 74.98% of the company
    ** The offer price represents a premium of 23.2% to the
stock's closing price of HK$0.056 on May 12, prior to the
announcement of Lo to become co's new majority shareholder 
    ** Trading in stock resumes after Macau's government said on
Wednesday seven companies had bid for new casino licences in the
world's biggest gaming hub, with new contracts set to start at
the beginning of 2023  urn:newsml:reuters.com:*:nL1N30L0QN
    ** The Hang Seng Commerce & Industry Index  .HSNC  gains
0.3%, while the Hang Seng Composite Index  .HSCI  and the Hang
Seng Index  .HSI  both climb 0.4%
    ** As of last close, the stock had risen 34.9% this year

 (Reporting by Donny Kwok)
 ((donny.kwok@thomsonreuters.com))