Imperial Pacific International Holdings Ltd, a company that has pledged to spend as much as US$7 billion on a casino resort on the Pacific island of Saipan, said in a Wednesday filing that it intended to issue approximately 127.7 billion bonus shares on July 3.
On June 17, shareholders approved the issue on the basis of 15 bonus shares for every one existing share held by qualifying shareholders.
Imperial Pacific – which started life as a frozen food business before acquiring the rights to a profit stream from a Macau junket investor – saw a 5.13 percent rise in its Hong Kong share price as of 10.55am local time on Thursday, to HKD0.41, according to the Hong Kong Stock Exchange website.
The gaming investor said in a filing on June 12 that it would launch and operate a “temporary casino” on Saipan, the main island on the U.S. territory the Commonwealth of the Northern Mariana Islands, in the third quarter.
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