Global gaming gets Genting premium valuation

Investors bet the asset light company will win new licenses.

Genting International, the overseas investment arm of Malaysian gaming operator Genting Berhad, completed the institutional tranche of its upsized Singapore IPO on Friday December 2. Under the lead management of DBS, CIMB, CLSA and Merrill Lynch, the Kuala Lumpur-listed group will issue a total of one billion shares raising S$350 million $207 million.

The deal has four components of which the largest comprises a placement tranche of 750 million shares. This has...

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