Search form

Login - Register | FOLLOW US ON

Logo of Phnom Penh Post newspaper Phnom Penh Post - NagaCorp looking to shore up extra $120M

NagaCorp looking to shore up extra $120M

Casino operator NagaCorp Ltd aims to raise at least $120 million in net proceeds through a placing and subscription agreement that will see 190,000,000 shares sold to no less than six parties in a bid to increase capital for its Naga 2 development in Phnom Penh, the company announced in a filing to the Hong Kong Stock Exchange yesterday.

The massive $369 million Naga 2 development is slated to be operational in 2017.

Some of the funds raised will be used “for general corporate purposes”, the filing said.

1

Comments

Please, login or register to post a comment
Don Rennie's picture

Dear Staff,

Naga World continues to rack up revenue and profits. Borrowing money through the issue of shares is a good idea.

DR

Latest Video

Kem Sokha talks politics, power and Hun Sen

Kem Sokha, leader of the Cambodia National Rescue Party, sat down with The Post’s Alex Willemyns and Mech Dara to discuss his supporters’ initial disappointment with this year’s

Phnom Penh eats: Dine amid green gardens at Chol Chet

Located just off National Road 1 about 9km south of central Phnom Penh, Chol Chet — which means 'like' in Khmer — is a great getaway from the bustle of the capital.

NEC officials tally votes during a recount last week in Phnom Penh.

Cambodia’s National Election Committee last week rejected 33 of 61 complaints filed over the conduct of June 4’s commune election, according to a s

People search for their names on the voter lists at a polling station in Kampong Cham’s Veal Vong commune earlier this month.

Four years ago, when the opposition snatched Kampong Cham away from the ruling party in 2013 national elections, it hinted at a deeper shift taking