Genting launches $1.42 billion rights issue

In a choppy market, the Malaysian casino operator offers a hefty discount to its traded price to entice investors.

Volatile global markets and a particularly bearish Singapore market has not deterred Genting International, the Singapore-listed casino operator, from announcing a mega-rights issue worth S$2.2 billion $1.42 billion.

Investors around the world have continued to display nervousness as bad news relating to the subprime situation in the US continues to cause shock waves. The Singapore Straits Times Index lost around 5% over the last two weeks and 3.35% yesterday to close at 3,273. But Genting still decided to proceed...

FinanceAsia has updated its subscription model. Registered readers now have the opportunity to read five articles from our award-winning website for free. Please subscribe for unlimited access.

Click for more on: genting international | casino operator

Print Edition

FinanceAsia Print Edition