RESORTS World Bhd's indirect wholly-owned subsidiary Resorts World Ltd (RWL) is to subscribe for all the new shares in Star Cruises Ltd that it is entitled to under the latter's right issue to raise HK$779mil (RM400mil) to part-finance the purchase of two new ships.
According to a statement from Resorts World yesterday, RWL's subscription for its entitlement to 121.2 million new Star Cruises shares at HK$2.25 each would cost it HK$272.7mil (RM136.2mil). RWL currently holds a 34.99% stake in the cruise liner operator. Resorts World said RWL was also sub-underwriting the public portion of Star Cruises' rights issue that involved up to 52.17 million shares amounting to HK$117.4mil (RM59mil).
Already a subscriber? Log in.
Limited time offer:
Just RM5 per month.
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!
