SJM Shares Rise as Stanley Ho is Released from Hospital
Stanley Ho
Shares in Stanley Ho’s company, SJM Holdings Ltd, rose after the chairman and casino tycoon was released from hospital. The 88 year old apparently waved to reporters as he left the hospital and his daughter, Pansy Ho, has confirmed that he has “fully recovered”. SJM shares rose by 4%, bringing their value to HK$4.39, or 37p.
Ho has been in hospital since mid-2009 after falling in his home and has since undergone surgery. Ho’s hospitalisation has proven to be a particularly turbulent period for SJM Holdings Ltd, as shareholders reacted to news that Ho’s company may be taken over by one of his relatives. The Ho family regularly quashed such rumours and Ho’s return to health presumably means he will continue overseeing the company.
Aaron Fischer, a financial analyst based in Hong Kong, has suggested that “the release of Stanley Ho from hospital is great news all round, specifically for the share price of SJM, despite Dr Ho not being closely involved in its day-to-day operations”. Fischer also recommended purchasing shares in SJM Holdings Ltd.
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