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Vietnamese casino IPO delayed

23 July 2007

VIETNAM -- As reported by the China Post: "The Taiwan-backed operator of Vietnam's biggest casino said Thursday it had delayed its initial public offering to next month due to procedural problems in its application to list on the Ho Chi Minh Stock Exchange.

"Royal International Corp., which runs the casino in Halong Bay, had applied to sell 8 million shares, or about 23 percent of the company, on the exchange on July 20 to raise about US$100 million for expansion.

"'We had some problems with the listing paperwork, but that has been resolved now and we should receive our IPO and listing license early next week,' Tran Trong Nghia, head of the equity department, told Reuters.

"'The new schedule for the IPO and listing should be the first week of August,' Nghia added..."

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