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HONG KONG - THE casino company of Macau billionaire Stanley Ho said on Wednesday it was delaying its public listing on the Hong Kong Stock Exchange a week following a court challenge by his sister.
Sociedade de Jogos de Macau Holdings (SJM) said in a statement to the exchange that it would delay the long-awaited listing until July 16.
Trading in the shares had been originally set to start on Thursday, July 10.
'The directors are of the opinion that the judicial review proceedings constitute significant new information which might be material to investors' ability to make an informed assessment of the company,' SJM said.
Ms Winnie Ho, the billionaire's estranged sister, was due to find out later on Wednesday if her last-ditch bid to delay the listing would receive court approval.
The two have been engaged in an epic legal battle for many years over who controls the family firm, which dominated the gaming market in the former Portuguese colony of Macau before Mr Stanley Ho lost his monopoly in 2002.
Ms Winnie Ho worked for the firm's parent company STDM for 25 years until 2002 and still retains a stake in the company, although Mr Stanley Ho has tried to eject her as a shareholder since the spat began.
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