The Star Entertainment Group saw its shares drop heavily today after it completed a $565 million capital raise with institutional investors as the casino operator attempts to shed debt.
Embattles casino operator Star Entertainment Group [ASX:SGR] has seen its share price collapse today, falling 15% after a capital raise, where it offered heavily discounted shares to institutional investors at 60 cents per share.
The raise is part of an extensive strategic review by the company, which has seen its share prices plunge this past year as it came under the scrutiny of regulators for its involvement with criminal activity and money laundering.
The heavy discount is close to todays price, trading at 63.8 cents per share.
In the past 12 months…
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