SINGAPORE (Reuters) - The family that owns Malaysian gaming firmGenting sold about 9 percent of shares in its Singapore unit toinstitutions on Wednesday, raising S$615 million, two sources withknowledge of the deal told Reuters.
A total of 853.8 million Genting Singapore shares were sold atS$0.72 a share, a discount of around 17 percent from its last closingprice.
Shares of the firm dropped as much as 21 percent in early trade,inviting a query from the Singapore Exchange about the sharp movementin its share price.
Sharesin Genting Bhd , which is controlled by the family of its Chairman andCEO Lim Kok Thay, were down 4.5 percent at 0218 GMT.
The shares were sold at the lower end of a price range of S$0.72-S$0.76 a share, listed in a term sheet seen by Reuters.
UBS and JPMorgan are joint book-runners for the secondary placement, the sources told Reuters.
The sale, through the family's vehicles Golden Hope Ltd and LakewoodSdn Bhd, was aimed at boosting the liquidity of the stock, according toone of the sources.
Genting officials in Singapore and Malaysia declined to comment. Thesources did not want to be identified because the deal is not public.
Both Golden Hope and Lakewood are vehicles linked to Lim, company documents show.
Genting Singapore, which also owns casino assets in Britain, isbuilding the city-state's second casino that will open by the middle of2010.
Genting Bhd, the holding company of the Lim family, has a 54.5percent stake in the Singapore-listed arm while various family vehiclescontrolled around 9 percent of the firm before the sale, according toThomson Reuters data. |
本周最热论坛帖子
发表于 27-5-2009 01:03 PM
楼主
！
2139 
45
