Cains Advises Genting On US$1 Billion Rights Issue
22nd September 2009
Cains acted as Isle of Man legal advisers to Genting Singapore PLC (Genting Singapore) on its recently announced rights issue which will raise up to S$1.63 billion (US$1.14 billion). The proceeds of the rights issue will be used to pursue strategic opportunities and for working capital purposes.
Genting Singapore is listed on the Main Board of the Singapore Stock Exchange and, as at 8 September 2009, had a market capitalisation of S$11.49 billion (US$8.04 billion). The rights issue is fully underwritten by eight banks and DBS Bank Ltd and CIMB Bank Berhad, Singapore Branch acted as joint financial advisers and joint lead managers.
Genting Singapore is developing the S$6.59 billion (US$4.61 billion) Resorts World Sentosa, one of two integrated resorts being built in Singapore, and is the largest gaming operator in the United Kingdom.
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