Hong Kong’s securities regulator warned it may delist two companies formerly headed by jailed Macau gambling kingpin Alvin Chau because of concerns about a $116 million sale of assets in Russia.

Shares remain halted as the Securities and Futures Commission said they were concerned LET Group Holdings Ltd. and Summit Ascent Holdings Ltd. hadn’t complied with rules requiring shareholders’ approval of the deal, the regulator said in a statement Wednesday. The SFC asked both companies to address its concerns but hasn’t received a response, it said.

The completion of the asset sale may leave both LET and Summit Ascent without sufficient assets to warrant their continued listing in Hong Kong, it said.