Melco Crown Introduces Motion To Voluntarily Withdraw Shares From Hong Kong Exchange

Melco Crown Entertainment (NASDAQ: MPEL) announced on Friday that its Board of Directors unanimously approved a proposal to voluntarily withdraw shares from trading on Hong Kong's Main Board of the Stock Exchange for "reasons of cost and utility."

The company reaffirmed its intentions to retain its existing primary listing of ADSs on the NASDAQ exchange.

Existing shareholders have the option of either holding the shares on the Hong Kong Exchange (which will cease trading after the Last Dealing Date) or holding their interest in the form of ADSs which will trade on the NASDAQ.

The delisting of shares is subject to approval by shareholders at its next annual general meeting.