SkyCity to raise $230m of fresh equity, suspends dividends

Wed, 17 Jun 2020

SkyCity Entertainment Group will raise $230 million in fresh equity and has suspended future dividends until at least June next year as part of a plan to strengthen its balance sheet post- coronavirus crisis.The casino and hotels operator will raise $180 million from a share placement to institutions and $50 million from a share purchase plan for retail investors and said it will have $586 million in pro-forma adjusted liquidity after the raising to meet future funding obligations.The placement will be at $2.50 per share, a 6.4 percent discount...

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