Feb 26, 2015 Newsdesk Latest News, Rest of Asia, Top of the deck  
Boutique Asian casino operator Donaco International Ltd says it raised approximately AUD24.9 million (US$19.6 million) from the retail component – which closed on Monday – of a share entitlement offer.
Eligible parties subscribed for a total of 41.5 million shares under the retail entitlement exercise. An institutional component of the entitlement offer was completed on February 10, and raised approximately AUD92.4 million, making an aggregate of AUD117.3 million – or US$92.1 million – from the two exercises.
Donaco said in a filing on January 30 that it aimed to raise US$100 million in equity financing – via an entitlement offer – toward the US$360 million consideration price for the acquisition of the Star Vegas Resort and Club casino property in Poipet, Cambodia. That deal is due to close in April, according to the January 30 filing.
Share entitlements not taken up by existing holders will be allocated to participants in the retail book building or subsequently to the sub-underwriters that have provided binding commitments, said Donaco in a statement on Thursday.
The subscribed retail entitlement offer shares and those subscribed to under the underwriting agreement are expected to be issued on Monday, March 2, and commence trading on Tuesday.
Donaco is currently a one-property operator, running the Aristo International casino hotel (pictured) in Lao Cai, in northern Vietnam.
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