NagCorp turns to HK for first follow-on from Cambodia

03 Apr 2012

Casino operator NagaCorp’s chief executive raised HK$650.6m ($83.8m) on Monday evening from a block sale of shares through his holding company Fourth Star Holding — the first ever follow-on offer from a Cambodian company.

But its stock price suffered after news of the deal hit the market on Tuesday, falling by more than 16% over the course of the day. It recovered to close around the offer price, but that was still a discount of more than 11% to the previous day’s ...

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