MPO to seek LSE Main Market listing
Move intended to widen investor base and increase share liquidity
Macau Property Opportunities Fund Limited is pleased to announce that it intends to apply for admission to trading on the London Stock Exchange plc's Main Market for listed securities.
Since admission to AIM in 2006, the Company has witnessed a significant growth in its operations and property portfolio. Following discussions with advisers and shareholders, the Board believes that a Main Market listing will be the most appropriate platform for the next stage of MPO’s development and growth.
The potential benefits of a Main Market listing include an enhanced market profile, an enlarged and more diversified shareholder base, improved liquidity in the trading of the Company’s shares and ultimately, maximisation of shareholder value.
It is currently envisaged that admission will occur during the second quarter of 2010, subject to receiving the necessary regulatory and shareholder approvals. Collins Stewart Europe Limited will be acting as Sole Sponsor and Broker to the listing.
David Hinde, the Company’s Chairman, said: "We believe that the proposed move to the LSE’s Main Market will provide long-term benefits to our investors, maximise shareholder value and maintain the positive momentum behind MPO’s growth."
The Company's recent interim results for the period ended 31 December 2009 outlined an increase in Adjusted Net Asset Value of 10.7%, reflecting the quality of MPO’s portfolio and the growth potential of its target segments in Macau’s property market.