• 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

Imperial Pacific to raise funds for Saipan casino project

Dec 03, 2014 Newsdesk Latest News, Top of the deck, World  


Imperial Pacific to raise funds for Saipan casino project

Hong Kong-listed Imperial Pacific International Holdings Ltd said it agreed to place a maximum of 510 million new shares in a bid to raise HKD774 million (US$99.8 million). The funds will be used as general working capital, including financing the relevant costs and expenses for the casino project on the Pacific island of Saipan (pictured), the firm said in a filing.

The new shares will be placed at HKD1.55 apiece, a discount of approximately 7.19 percent to the closing price of HKD1.67 per share on Tuesday.

“The maximum gross proceeds and the maximum net proceeds from the placing will be approximately HKD791 million and HKD774 million respectively,” the company said.

The maximum number of placing shares represents about 6.37 percent of the entire issued share capital of the firm and approximately 5.99 percent of the enlarged capital.

“The board considers that the placing represents a good opportunity to broaden the shareholder base and capital base of the company and to raise certain required capital of the group,” said Tuesday’s filing.

In late September, Imperial Pacific – an investor in the profit stream of Macau junket firm Hengsheng Group – said in a filing that the total development cost for its casino project on Saipan was now estimated at about US$7.1 billion.

The firm last month said it will be allowed by the authorities in Saipan to bring in outside investors up to a limit of 49 percent of the issued share capital of the company.


  • tweet
Related articles
  • Court rejects Imperial Pacific appeal on licence suspension
    Court rejects Imperial Pacific appeal...

    Mar 17, 2022  

  • Imp Pacific told to sell gaming machines to settle debt
    Imp Pacific told to sell gaming...

    Jul 12, 2021  

More news
  • SOFTSWISS says it saved ops US$17mln via anti-fraud efforts
    SOFTSWISS says it saved ops US$17mln...

    Mar 24, 2023  

  • Spring launch for Pragmatic Play ‘Rabbit Garden’ slot
    Spring launch for Pragmatic Play...

    Mar 24, 2023  


Latest News

SOFTSWISS says it saved ops US$17mln via anti-fraud efforts

SOFTSWISS says it saved ops US$17mln via anti-fraud efforts

Mar 24, 2023  

Gaming software provider SOFTSWISS says the group’s Anti-Fraud team, part of its Managed Services division, reported its “best performance ever” in 2022. The firm’s experts in that field...
Read More
Spring launch for Pragmatic Play ‘Rabbit Garden’ slot

Spring launch for Pragmatic Play ‘Rabbit Garden’ slot

Mar 24, 2023  

Universal Ent affiliate to develop land next to Okada Manila

Universal Ent affiliate to develop land next to Okada

Mar 24, 2023  

Sign up to our FREE Newsletter

UB8V5.qr.16(Click here for more)

Pick of the Day


April 8, 2028

Completion deadline for 'Marina Bay Sands 2.0', as authorised by Singapore’s authorities



Most Popular

  • Casino op SJM 2024 EBITDA to hit US$510mln: Moody’sCasino op SJM 2024 EBITDA to hit US$510mln: Moody’s March 22, 2023
  • March 18 Macau arrivals nearly 100k, best since pandemicMarch 18 Macau arrivals nearly 100k, best since pandemic March 23, 2023
  • Macau ops getting overseas visitors via private jets: reportMacau ops getting overseas visitors via private jets: report March 21, 2023
  • Sands China woos Singaporeans as Air Macau opens routeSands China woos Singaporeans as Air Macau opens route March 23, 2023
  • Contractor named, work starts for Wynn UAE schemeContractor named, work starts for Wynn UAE scheme March 23, 2023
Copyright 2014-2023 TEAM Publishing and Consultancy Ltd / All rights reserved
  • Code of Ethics
  • Privacy Policy
  • Useful Links
  • Contact Us