Casino investor Amax International Holdings Ltd said it has successfully completed a subscription and placing, raising net proceeds of HKD9.06 million (US$1.17 million). The firm issued 9,900,000 shares to the subscriber at HKD0.93 per share, it said in a filing to the Hong Kong Stock Exchange on Tuesday.
“The net proceeds from the subscription … will be utilised for general working capital and investment of the group,” Amax International said.
The placing shares represent approximately 3.71 percent of the issued share capital as enlarged, it added.
The shares have been allotted to six placees, “who and whose ultimate beneficial owners are third parties independent of the company and its connected persons,” the firm said, without disclosing details.
After the subscription, Ng Man Sun, chairman and chief executive of Amax International, remains the largest shareholder of the company with a 14.58-percent stake.
The firm last week posted a loss attributable to shareholders, of HKD17.77 million for the first half fiscal 2014 ending September 30.
Sep 19, 2018Nowadays, millennials, people who were born in the 1980s or...
Aug 16, 2018Food and drink have been heavily marketed as part of Macau...
Jun 27, 2018Macau’s gaming law needs to be amended in order to...
Nov 16, 2018Bringing e-Sports or virtual reality (VR) games into casinos is a “meaningful” experiment in diversification for casino operators, even in the Macau context, where the city’s casinos are...
Nov 16, 2018
"I am not going to speculate on what the [casino licence refreshment] tender requirements would be. I have full confidence and faith in the Macau government to treat everyone fairly"
Wilfred Wong Ying Wai
President and chief operating officer of Macau-based casino operator Sands China