Oct. 13, 2006 (China Knowledge) – NagaCorp Ltd., a Cambodia-based casino operator that is soon to list on the Hong Kong Stock Exchange, has raised HK$715 million pricing its initial share offering at HK$1.43 per share, the South China Morning Post reported today.
The report quoted unidentified sources close to the sale as saying that the company has set the final pricing for its IPO at HK$1.43 per share, in the middle of an indicative price range of between HK$1.25 and HK$1.60 per share.
NagaCorp is selling 500 million shares, with 450 million allocated for private placement and a remaining 50 million for retail investors.
A large portion of the funds raised from the share sale will be used for the development of NagaWorld, its new hotel and entertainment complex that houses the only licensed casino in Phnom Penh, the capital of Cambodia. Approximately HK$461 million of the funds will go to this purpose.
The remaining funds will be used for the development of the company’s gaming activities such as the installation of gaming equipment, tables, and other ancillary equipment for the public gaming floor in the hotel lobby; as well as for general working capital purposes.
Dealings of the shares on the Hong Kong Stock Exchange are expected to commence on Oct. 19.
Anglo Chinese Corporate Finance Ltd. is the sponsor, arranger, and joint lead manager for the share sale while the other joint lead manager is Kim Eng Securities (Hong Kong) Ltd. Co-lead managers of the deal are Evolution Watterson Securities Ltd. and China Merchants Securities (HK) Co. Ltd.
Underwriters for the deal are First Shanghai Securities Ltd., Taiwan Securities (Hong Kong) Co. Ltd., and VC Brokerage Ltd.
The report quoted unidentified sources close to the sale as saying that the company has set the final pricing for its IPO at HK$1.43 per share, in the middle of an indicative price range of between HK$1.25 and HK$1.60 per share.
NagaCorp is selling 500 million shares, with 450 million allocated for private placement and a remaining 50 million for retail investors.
A large portion of the funds raised from the share sale will be used for the development of NagaWorld, its new hotel and entertainment complex that houses the only licensed casino in Phnom Penh, the capital of Cambodia. Approximately HK$461 million of the funds will go to this purpose.
The remaining funds will be used for the development of the company’s gaming activities such as the installation of gaming equipment, tables, and other ancillary equipment for the public gaming floor in the hotel lobby; as well as for general working capital purposes.
Dealings of the shares on the Hong Kong Stock Exchange are expected to commence on Oct. 19.
Anglo Chinese Corporate Finance Ltd. is the sponsor, arranger, and joint lead manager for the share sale while the other joint lead manager is Kim Eng Securities (Hong Kong) Ltd. Co-lead managers of the deal are Evolution Watterson Securities Ltd. and China Merchants Securities (HK) Co. Ltd.
Underwriters for the deal are First Shanghai Securities Ltd., Taiwan Securities (Hong Kong) Co. Ltd., and VC Brokerage Ltd.
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