Genting Shares Fall as Company Announces Rights Issue
Genting said it intends to raise over $300 million through a rights issue to repay loans and fund working capital. Shares fell as much as 15% to 1.59 ringgit, widening year-to-date losses to over 47%.
Ying Xian Wong reports from Kuala Lumpur, Malaysia. Genting shares dropped after the conglomerate said it intended to raise over $300 million in a rights issue to repay loans and fund working capital. 59 ringgit, taking year-to-date losses to over 47%. Subsidia…