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| Genting Singapore tumbles after shares sold at a discount |
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Wednesday, 27 May 2009 10:47 |
Genting Singapore Plc, which is building a casino and theme
park in the city, fell the most in more than three months after
stockholders sold shares at a discount through a private placement,
reported Bloomberg.
Genting slumped as much as 21% to 68.5 cents and traded at 72.5 cents
as of 10:29 a.m. That cut the stock’s gain this year to 62%, compared
with a 29% climb for the benchmark Straits Times Index.
| Owners sell 9% in Genting Singapore for $615m to boost liquidity |
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Wednesday, 27 May 2009 11:11 |
The family that owns Malaysian gaming firm Genting sold about 9% of
shares in its Singapore unit to institutions today, raising $615
million, two sources with knowledge of the deal told Thomson Reuters.
A total of 853.8 million Genting Singapore (GNTG.SI)
shares were sold at 72 cents a share, a discount of around 17% from
its last closing price. Shares of the firm dropped as much as 21% in
early trade, inviting a query from the Singapore Exchange about the
sharp movement in its share price. |
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sti up, hk also up. why genting keep going down?
