Genting Singapore announced yesterday that they will be having a Rights Issue to raise S$1.63 billion. This will be the second largest rights issue of the year.
Shareholders of Genting Singapore will be given the right to subscribe for 1 Rights Share at a price of $0.80 for every 5 Genting shares that they own.
The Rights are renounceable and investors who do not wish to take up their Rights can sell them during the trading dates of the nil-paid Rights.
Key dates are as follows:
Ex-rights date: 18th September 2009 from 9am
Despatch of Offer Information Statement: 28th September 2009
Commencement of trading of nil-paid Rights: 28th September 2009 from 9am
Last day of trading of nil-paid Rights: 6th October 2009 at 5pm
Last day for application and payment: 12th October 2009 at 5pm (930pm for ATM)
Expected date of commencement of Rights Shares: 21st October 2009 from 9am
The Genting Singapore Rights Issue announcement can be downloaded below: