How SkyCity ensured all shareholders were treated fairly in $230m capital raising

Thu, 18 Jun 2020

SkyCity Entertainment Group stared down its merchant bankers to ensure its existing shareholders were able to access their fair share of its $230 million capital raising. That resulted in key differences from other recent capital raisings, including setting a firm price on the $180 million placement to institutions, rather than using a bookbuild, and that SkyCity didn't need to underwrite that placement. Chief executive Graeme Stephens said his company had the benefit of waiting, watching and learning from other companies raising capital...

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