HONG KONG: Shangri-La Asia Ltd, the region’s biggest luxury hotel operator, may raise as much as HK$5.22bil (US$668mil) in a rights offering to pay debt and help finance expansion.
The company will sell to shareholders 287 million to 290 million shares, or one for every nine existing shares, at HK$18 each, it said in a statement to Hong Kong’s stock exchange yesterday.
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