SkyCity offers to sell $263M of shares to fund Auckland, Adelaide expansion

Tue, 10 May 2016

By Tina Morrison May 11 (BusinessDesk) - SkyCity Entertainment Group, New Zealand's only listed casino company, plans to raise $263 million by selling new shares to existing investors, enabling it to keep its debt in check and maintain its credit rating while funding expansion in Auckland and Adelaide. The Auckland-based company is offering to sell its investors one new share for every 10 held, at a price of $4.40 apiece, a 12.8 percent discount to the five-day volume weighted average price of $5.04 as at May 10, it said in a statement. ...

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