• About Us
  • The Team
  • Advertise with Us

The latest news on the gaming industry in Asia

() () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () ()
  • Home
  • Macau
  • Philippines
  • Singapore
  • Japan
  • Rest of Asia
  • World
  • Industry Talk
  • Trends & Tech
  • iGaming
  • follow
    • Facebook
    • Twitter
    • RSS Feed
    • LinkedIn

Amax boss sells some shares to third parties

Aug 25, 2014 Newsdesk Latest News, Macau, Top of the deck  


Amax boss sells some shares to third parties

Hong Kong-listed gaming investor Amax International Holdings Ltd said after market close on Friday that its chairman Ng Man Sun intended to sell 6.4 million of his shares in the firm to “not less than six” independent third parties. There will then be a top-up subscription of new shares under a general mandate, so that Mr Ng’s holding will be slightly diluted from 17.03 percent prior to the deal, to 16.57 percent afterwards.

The whole exercise is expected to raise HKD7.56 million (US$975,500) net.

Amax Holdings said the money raised would be used for “general working capital and potential investment”.

The filing added that the price of HKD1.20 per placement share represented a 15 percent discount to the stock’s average closing price of approximately HKD1.41 in the five trading days immediately prior to the Friday announcement. The placement represents 2.80 percent of Amax Holdings’ issued share capital, and 2.73 percent as enlarged.

On August 28 last year, the company conducted a placement of existing shares and top up subscription of new shares that raised HKD9.32 million for general working capital. In its Friday filing the company said that had already been spent.

On July 31, Amax International said it was extending for the third time – this time until the end of August – the deadline to complete a deal to acquire a 60-percent stake in a firm with an interactive gaming licence in the Pacific island Republic of Vanuatu.

Amax International on August 4 said that it has ongoing litigation with Greek Mythology (Macau) Entertainment Group Corp Ltd. Amax International has a 24.8 percent equity investment in the company.

Greek Mythology Macau has operated gaming tables in Casino Greek Mythology in Taipa, but has not yet produced its full annual accounts for the year ending December 31, 2012.

A Macau court has given Greek Mythology Macau until September 30 to produce documents relating to its accounts for that year.


  • tweet
Related articles
  • Century Ent to tie to 8 tables at Cambodia casino
    Century Ent to tie to 8 tables at...

    Feb 28, 2023  

  • Cambodia gaming table biz to resume soon: Century Ent
    Cambodia gaming table biz to resume...

    Nov 29, 2022  

More news
  • Much interest in state casinos sale, says Pagcor boss Tengco
    Much interest in state casinos sale,...

    May 30, 2023  

  • Dividend restart still far for Macau ops: JP Morgan
    Dividend restart still far for Macau...

    May 30, 2023  


Latest News

Much interest in state casinos sale, says Pagcor boss Tengco

Much interest in state casinos sale, says Pagcor boss Tengco

May 30, 2023  

Alejandro Tengco (pictured in a file photo), chairman and chief executive of the Philippine casino regulator, the Philippine Amusement and Gaming Corp (Pagcor), has told GGRAsia it has already had...
Read More
Dividend restart still far for Macau ops: JP Morgan

Dividend restart still far for Macau ops: JP Morgan

May 30, 2023  

Gaming industry in for a very exciting period: Bill Miller

Gaming industry in for a very exciting period: Bill Miller

May 30, 2023  

Sign up to our FREE Newsletter

UB8V5.qr.16(Click here for more)

Pick of the Day


6,000

Total number of visitors expected at the Global Gaming Expo (G2E) Asia 2023 Special Edition: Singapore, running from May 30 to June 1



Most Popular

  • Cotai Expo hotel extra to licence capex, says GoldsteinCotai Expo hotel extra to licence capex, says Goldstein May 29, 2023
  • Ian Coughlan out of Wynn Macau Ltd board, Cameron-Doe inIan Coughlan out of Wynn Macau Ltd board, Cameron-Doe in May 29, 2023
  • Londoner Macao to host Harry Potter exhibition in DecLondoner Macao to host Harry Potter exhibition in Dec May 29, 2023
  • Londoner Macao pulls in foreigners and Chinese: LVS CEOLondoner Macao pulls in foreigners and Chinese: LVS CEO May 25, 2023
  • Suntrust agrees to US$6mln loan from chairman Andrew LoSuntrust agrees to US$6mln loan from chairman Andrew Lo May 29, 2023
Copyright 2014-2023 TEAM Publishing and Consultancy Ltd / All rights reserved
  • Code of Ethics
  • Privacy Policy
  • Useful Links
  • Contact Us