MPO debuts on LSE Main Market
Move from AIM positions Fund well for the next phase of growth
Macau Property Opportunities Fund Limited (“MPO” or the “Company”) is pleased to announce that its ordinary shares have been admitted to the Official List of the UK Listing Authority and to trading on the London Stock Exchange plc's Main Market for listed securities (“Admission”) with effect from 8.00 a.m. today. Trading in the Company’s ordinary shares on AIM has been cancelled simultaneously.
At admission there were 105,000,000 ordinary shares in issue.
The ticker for the Company’s ordinary shares will continue to be MPO.
The prospectus prepared by the Company in connection with the move to the Official List is available on the Company’s website at: www.mpofund.com
Since its launch in June 2006, MPO has established a strategically well positioned portfolio with the acquisition of five key properties. The Fund has also enjoyed positive NAV growth to date, with its most recent Adjusted NAV per Ordinary Share standing at US$2.49 as at 31 March 2010.
A move to the Main Market is expected to improve the liquidity in MPO’s ordinary shares, widening the pool of potential investors in the Company. The move is also expected to raise the Fund’s profile in the financial and investor community. In the longer term and subject to meeting certain liquidity conditions, a move to the Main Market could also lead to eligibility for inclusion in the FTSE All-Share Index.
David Hinde, Chairman of MPO, said: "AIM has served as a good platform to support MPO’s development to date. We believe the transfer of our listing to the Main Market at this time is an appropriate and strategic move which will broaden our investor base and enhance the Fund’s profile and positions us well for the next phase of growth."