Star Entertainment Group Ltd announced a refinancing action. The Australian gambling giant revealed that it is seeking to raise as much as AU$1.2 billion through a combination of debt and equity after a recent crackdown on money laundering and associations with criminal organisations across the countrys gambling sector undermined its financial capabilities.
On September 25th, the company issued a statement unveiling a decision to launch an AU$750-million equity raising at the price of AU$0.60 per share through the Australian financial service provider Barrenjoey Markets Pty. The offer involves a 1 for 1.65 entitlement offer for the companys current retail shareholders to raise approximately AU$589 million. Apart from that, a placement wo…
Read the full article at: https://www.casinoguardian.co.uk/2023/09/26/star-entertainment-unveils-refinancing-action-to-raise-as-much-as-au1-2-billion-following-financial-hurdles/