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

Khmer New Year games: it’s never too late to try them out

Even though games such as “Fight for the leaf” or “Hide the towel” are traditionally played during the Khmer New Year holidays

Khmer New Year getaway: Ghost Island

One of 23 islands in the sea of Koh Kong, Koh Kmoch (Ghost Island) has a wealth of corals and other sealife visible through its crystal clear water.

ACLEDA’s boss on how tech is changing financial services

In today’s world of fast-changing technology, Cambodia is seeing increasing innovation in financial services.