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Jailed tycoon Jimmy Lai’s Next Digital, publisher of Apple Daily, to be delisted from Hong Kong stock exchange next week
- The media company will be delisted on January 12, a year and a half after the closure of its flagship newspaper Apple Daily
- Next Digital has been a key target of authorities in the wake of the adoption of the national security law in June 2020
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Next Digital, the media company founded by jailed tycoon Jimmy Lai Chee-ying, will be delisted from the Hong Kong stock exchange on January 12, a year and a half after the closure of its flagship newspaper Apple Daily.
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The listing committee of the stock exchange decided last month to cancel the listing status of the company while the firm, which is now in the process of liquidation, has no intention to appeal the decision, according to a filing to the exchange released on Wednesday night.
As such, Next Digital’s last day as a listed company will be on January 11 with its shares cancelled from 9am the following day.
Next Digital has been a key target of authorities in the wake of the adoption of the national security law in June 2020. Police arrested Lai a month after the law kicked in and raided the company’s offices in Tseung Kwan O.
Apple Daily, known for its support of the 2019 anti-government protests and its backing of the opposition camp in Hong Kong, published its final edition on June 24, 2021. Authorities have also frozen HK$18 million (US$2.3 million) of Next Digital’s assets.
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Shares of Next Digital have been halted from trading since June 17, 2021. Two months later, Financial Secretary Paul Chan Mo-po filed a petition to the Court of First Instance to liquidate the 40-year-old firm, a week after his appointed special inspector submitted his interim findings.
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