Macau Legend Development Seeks HK$93 Million via 1-for-2 Rights Offering

MT Newswires Live

Oct 06

Macau Legend Development (HKG:1680) announced a 1-for-2 rights offering to raise HK$93 million, according to a Hong Kong bourse filing Friday.

Shares of the gaming company fell over 9% in morning trade Monday.

The company is looking to sell up to 310,059,356 rights shares at HK$0.3 each to raise funds for general working capital.

The shares represent around 50% of the company's existing share capital, and 33.33% on an enlarged basis.

Any shares not subscribed by qualifying shareholders will be offered to external investors, the firm said.

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