Claim 50% Off TipRanks Premium
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis and maximize your portfolio's potential
Macau Legend Development ( (HK:1680) ) has shared an update.
Macau Legend Development Limited has disclosed that the Cape Verde government has taken possession of the group’s investment project assets in Cidade da Praia Bay after the company declined a request for a voluntary handover, arguing the move had no legitimate basis. The board, which is seeking legal advice, emphasized that the assets had already been fully impaired to a carrying value of zero in its 2024 accounts, and therefore the seizure is not expected to have a material adverse impact on the group’s operations or financial performance, though the episode underscores continuing uncertainties surrounding its overseas investment strategy and regulatory relations in Cape Verde.
The most recent analyst rating on (HK:1680) stock is a Sell with a HK$0.34 price target. To see the full list of analyst forecasts on Macau Legend Development stock, see the HK:1680 Stock Forecast page.
More about Macau Legend Development
Macau Legend Development Limited is a Hong Kong–listed leisure and entertainment group with operations centered on integrated resort and tourism-related projects. The company develops and operates gaming, hotel, and leisure facilities, focusing on destination-driven investments in emerging markets such as Cape Verde alongside its core presence in Macau.
Average Trading Volume: 155,192
Technical Sentiment Signal: Sell
Current Market Cap: HK$316.3M
See more data about 1680 stock on TipRanks’ Stock Analysis page.