SkyCity raises $180M from share sale to institutional investors; retail offer looms

Mon, 16 May 2016

By Tina Morrison May 16 (BusinessDesk) - SkyCity Entertainment Group raised about 70 percent of the $263 million it's seeking for expansion in a share sale to institutional investors, and will offer the remaining shares to retail investors. The Auckland-based company said it sold about $180 million of shares to institutional investors as part of a capital raising last week. Eligible investors paid $4.40 apiece to buy one new share for every 10 held, with the shortfall taken up at $4.85 apiece. Retail investors will be offered about $83 mi...

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