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Genting Releases IPO Details

SINGAPORE – As reported by Channel News Asia: "Casino operator Genting International has announced details of its IPO in Singapore.

"The share sale is part of a move to switch its primary listing to the city-state from Luxembourg.

"Genting announced that it had attracted 4 strategic investors, 3 of whom are linked to hotelier Ong Beng Seng.

"With Genting in the running for an integrated resort licence in Singapore, that is leading to speculation that they could be joining hands for the project.

"Genting International is offering 800 million shares to investors at 35 Singapore cents each in its IPO here.

"All 750 million placement shares were taken up, with an oversubscription rate of about 7.5 times…"

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