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 days
Please take a trial or subscribe to access this content.
Contact our subscriptions team to discuss your access: email@example.com
Or sign up for a trial to gain full access to the entire site for a limited period.
To discuss GlobalCapital access for your entire department or company please contact our subscriptions sales team at: firstname.lastname@example.org or find out more online here.