• 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

Louis XIII placements raise US$211 million gross

Dec 22, 2014 Newsdesk Industry Talk, Latest News  


Louis XIII placements raise US$211 million gross

An exercise by Louis XIII Holdings Ltd involving the issuing of placing shares and convertible bonds raised just under HK$1.64 billion (US$211.5 million) the firm said in a filing on Friday.

The company – which is developing a boutique casino on the border of Cotai and Coloane in Macau – had suspended trading in its stock at 9am that day pending the announcement of the results of the fundraising exercise. Trading in its shares restarted at 9am today.

Capital costs of the project were last year estimated at US$800 million. On November 20, Louis XIII Holdings said it was looking to raise some new money – some of which would be used for “design upgrades related to the fit out of the interiors of the hotel development”.

Casino Louis XIII will operate 66 gaming tables (50 premium mass and 16 VIP) according to previous regulatory filings. It will do so under a so-called ‘service agreement’ with an existing Macau concessionaire or sub-concessionaire, although the identity of the licence provider has not so far been confirmed by the holding company.

On November 20 Louis XIII had said its initial fundraising target from the new placements was HKD1.56 billion, with an upsize option of up to HKD780million. It said at the time the placing price would range from HKD3.00 to HKD4.00 per placing share, adding that the conversion price of the placing convertible bonds would be the same as the placing price.

On Friday the firm said the upsize option had been “partially exercised”. It added the placing price of the shares – and thus of the convertible bonds – was at the bottom of the previously quoted range. It represented a discount of around 7.1 percent to the closing price of HKD3.23 per share on the full day’s trading prior to Friday’s announcement.

The placing shares represent approximately 65.4 percent of the company’s existing issued share capital, and approximately 39.6 percent of the total issued share capital as enlarged by the placing shares.


  • tweet
Related articles
  • No request for casino at The 13 hotel: DICJ
    No request for casino at The 13 hotel:...

    Mar 14, 2016  

  • Macau’s Louis XIII shifts language on launch date
    Macau’s Louis XIII shifts language on...

    Jul 09, 2015  

More news
  • Leisure and Resorts 1Q loss widens as costs rise
    Leisure and Resorts 1Q loss widens as...

    May 25, 2022  

  • Macau unemployment an instability factor to security: govt
    Macau unemployment an instability...

    May 24, 2022  


Latest News

Leisure and Resorts 1Q loss widens as costs rise

Leisure and Resorts 1Q loss widens as costs rise

May 25, 2022  

Philippine gaming investor Leisure and Resorts World Corp reported a net loss of nearly PHP222.4 million (US$4.2 million) in the first three months of 2022, up from PHP125.6 million a year earlier....
Read More
Macau unemployment an instability factor to security: govt

Macau unemployment an instability factor to security: govt

May 24, 2022  

Wynn Macau Ltd asks managers to take 10pct wage in stock

Wynn Macau Ltd asks managers to take 10pct wage in stock

May 24, 2022  

Sign up to our FREE Newsletter

UB8V5.qr.16(Click here for more)

Pick of the Day

”If China’s travel easing gets delayed to the second half of 2023 [Macau operator’s aggregate net debt] could rise another US$2 billion, to US$27 billion by end-2023"

Praveen Choudhary, Gareth Leung and Thomas Allen

Analysts at Morgan Stanley banking group



Most Popular

  • Wynn Macau Ltd asks managers to take 10pct wage in stockWynn Macau Ltd asks managers to take 10pct wage in stock May 24, 2022
  • Macau GGR tax cut idea tied to China outlook: brokerageMacau GGR tax cut idea tied to China outlook: brokerage May 23, 2022
  • Macau op debt to hit US$25bln unless travel eased 2H: MSMacau op debt to hit US$25bln unless travel eased 2H: MS May 24, 2022
  • Review saw no irregularity in Levo Chan link: Macau LegendReview saw no irregularity in Levo Chan link: Macau Legend May 23, 2022
Copyright 2014-2022 TEAM Publishing and Consultancy Ltd / All rights reserved
  • Code of Ethics
  • Privacy Policy
  • Useful Links
  • Contact Us