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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.

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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