genting-singapore-launches-114-billion-rights-issue

Genting Singapore launches $1.14 billion rights issue

With yet another deal over $1 billion, Singapore remains the most active market for rights issues in Asia this year.

Resorts and casino operator Genting Singapore yesterday launched a rights issue that could raise up to S$1.63 billion $1.14 billion. When completed, the deal will consolidate Singapore's position as the most active market for rights issues in Asia this year, in terms of deal value.

A total of 2.04 billion new ordinary Genting Singapore shares are on offer at a ratio of one rights share for every five existing shares. The price is S$0.80 per share, a 32.8% discount to Tuesday's closing price of S$1.19, and a 28.9% discount versus the theoretical ex-rights price Terp of S$1.125 per share. The rights issue price is nearly double the S$0.415 price the stock was trading at...

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