Amax International to raise capital


Casino investor Amax International Holdings Limited is aiming to raise HK$7 million from the placing and subscription of 20 million existing shares, according to the company’s filing with the Hong Kong Stock Exchange.
The shares are to be sold to not less than six placees who are independent third parties.
The filing stated that the placing value of the shares is at HK$0.35 each and the total subscription would represent approximately 3.23 per cent of the company’s existing issued share capital and 3.13 per cent of the issued share capital after the issuing of the new shares.
The company further wrote in the filing that the net proceeds from the subscription will amount to approximately HK$6.64 million and the amount would be aimed ‘to be used for general working capital and investment’ of the company.
The casino investor earlier released a filing on Monday informing shareholders its intention to obtain the exclusive operating rights for a VIP room in an undisclosed Cambodian casino.
The company also noted that it continues to pursue a request to a Macau court on June 19 to issue a court order appointing the company’s Chairman and Chief Executive Officer, Ng Man Sun, as administrator of Greek Mythology (Macau) Entertainment Group Corp. Ltd., ‘in order to get access to and control of the books and records of Greek Mythology’.
The company holds 24.8 per cent of Greek Mythology (Macau) Entertainment Group Corporation Limited which operates and manages the Greek Mythology casino in Beijing Imperial Palace Hotel – previously named New Century Hotel – in Macau, the group’s 2017 annual report informed.
Beijing Imperial Palace Hotel is currently shut after its operating licence was given back to the MSAR Government at the beginning of the year, while Greek Mythology casino was shut down by the Gaming Inspection and Co-ordination Bureau (DICJ) in 2015.