Hong Kong Exchange to Delist Jailed Hong Kong Billionaire Jimmy Lai Media Group Next Digital Apple Daily on 12th January 2023, Trading Suspended Since 17th June 2021

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Hong Kong Exchange to Delist Jailed Hong Kong Billionaire Jimmy Lai Media Group Next Digital Apple Daily on 12th January 2023, Trading Suspended Since 17th June 2021

7th January 2023 | Hong Kong

Hong Kong Exchange (HKEX) will delist jailed Hong Kong billionaire Jimmy Lai media group Next Digital (Apple Daily) on 12th January 2023 (last listing day 11th Jan 2023), with trading of shares suspended since 17th June 2021 to safeguard interests of shareholders.  Next Digital was investigated by Hong Kong authorities following the implementation of China National Security Law (June 2020). A month later,  Jimmy Lai was arrested by Hong Kong police and Next Digital office was raided.  On 17th June 2021, Next Digital was suspended for trading for alleged illegal activities.  In 1999, Jimmy Lai acquired Hong Kong listed company Paramount Publishing Group and renamed it as Next Media and in 2015, renamed as Next Digital.   In December 2022,  Hong Kong billionaire Jimmy Lai (Age 75) had been sentenced to jail for 5 years & 9 months for violating office lease contract of newspaper Apple Daily by using premise to run his private consulting firm (Dico Consultants Ltd).   Jimmy Lai has an estimated personal fortune of $1.2 billion, and is the founder of fashion group Giordano & media group Next Digital (parent company of Apple Daily).  More info below.  

” Hong Kong Exchange to Delist Jailed Hong Kong Billionaire Jimmy Lai Media Group Next Digital Apple Daily on 12th January 2023, Trading Suspended Since 17th June 2021 “

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Hong Kong Billionaire Jimmy Lai Sentenced to Jail for 5 Years for Violating Office Lease Contract of Newspaper Apple Daily by Using Premise to Run Private Consulting Firm, Personal Fortune of $1.2 Billion and Founder of Fashion Group Giordano & Media Group Next Digital

15th December 2022 – Hong Kong billionaire Jimmy Lai (Age 75) had been sentenced to jail for 5 years & 9 months for violating office lease contract of newspaper Apple Daily by using premise to run his private consulting firm (Dico Consultants Ltd).  Hong Kong District Court Judge Stanley Chan also issued an order to disallow Jimmy Lai from becoming a director of any company for 8 years and a fine of $260,000 (HKD 2 million). Wong Wai-keung, a Next Digital senior executive, is also found guilty of fraud and sentenced to 21 months in jail.  Jimmy Lai has an estimated personal fortune of $1.2 billion, and is the founder of fashion group Giordano & media group Next Digital (parent company of Apple Daily).

Jimmy Lai jailed over fraud

Jailed Hong Kong media tycoon Jimmy Lai found guilty of fraud in office lease case

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