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SJM shares jump as Ho family reaches pact on succession | SJM shares jump as Ho family reaches pact on succession |
(7 months later) | |
Shares in gambling magnate Stanley Ho's SJM Holdings surged by 8% in Hong Kong on the news that the company's succession dispute had been settled. | |
Mr Ho, the chairman of SJM holdings, said he had resolved the legal tussle over the division of his empire with his family. | |
The billionaire said he had filed a note of discontinuance, dismissing a legal case against family members. | The billionaire said he had filed a note of discontinuance, dismissing a legal case against family members. |
SJM holdings is the largest casino operator in Macau. | SJM holdings is the largest casino operator in Macau. |
Shares in the company had tumbled by almost 26% since the dispute became public amid claims and counter-claims by various members of the family. | Shares in the company had tumbled by almost 26% since the dispute became public amid claims and counter-claims by various members of the family. |
The company did not mention if there had been any decision on exactly how the empire will be divided. | The company did not mention if there had been any decision on exactly how the empire will be divided. |
The casino operator is expected to announce its earnings next week. | The casino operator is expected to announce its earnings next week. |
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