Galaxy placement prices at 4.7% discount

The $165 million placement attracts $1.6 billion of demand following Permira's 20% investment in the Macau casino operator, but the deal is priced below the mid-point.

Galaxy Entertainment was able to raise HK$1.29 billion $165 million from the share placement it launched late Thursday in connection with the investment by private equity firm Permira into the company.

PermiraƆs decision to take a 20% stake in the Macau casino operator will allow Galaxy to repay part of its outstanding debt, leaving it with a significantly stronger balance sheet and with more cash towards the future development of phases two, three and four at its Cotai Mega...

To continue reading, please login or register for free

Click for more on: placement | gaming | casinos | permira | merrill lynch

Print Edition

FinanceAsia Print Edition

CONFERENCES

  • 2nd Compliance Summit Southeast Asia

    17 August 2017  |  Singapore
    The 2017 Compliance Summit Southeast Asia will take an in-depth look at the key compliance considerations today with a focus on regulation and new ...