The company has launched a rights issue by which it proposes to raise up to approximately HK$2.9bn.<\/p>\n\n\n\n\n\n\n\n
Macau.- Several directors of Macau casino operator SJM Holdings Ltd<\/strong> have applied for excess rights shares. That follows a rights issue in August through which SJM proposes to raise up to HK$2.9bn. The issue offered one rights share for every four existing shares held on August 29 at a subscription price of HK$2.08 per share.<\/p>\n\n\n\n On September 14, Angela Leong On Kei<\/strong>, co-chairman and executive director of SJM Holdings, subscribed and paid for the 114,587,500 warrants that SJM Holdings temporarily allotted to her. On the same day, she applied for an over-allotment of 38m shares. <\/p>\n\n\n\n These activities cost Leong On Kei a total of HK$317.88m. Her long position in the company increased from 8.49 per cent to 9.02 per cent. On the same day, Ambrose So Shu Fai<\/strong>, vice chairman, executive director and chief executive officer of SJM Holdings, subscribed and paid for the 30,831,980 warrants temporarily allotted to him upon exercise. <\/p>\n\n\n\n He also applied for an over-allotment of just over 30m shares. The exercise cost the CEO HK$126.53m. His long position in the company rose from 2.66 per cent to 3.09 per cent. He had previously reduced his stake in the company<\/a> from 3.31 per cent to 2.79 per cent <\/strong>in August.<\/p>\n\n\n\n Daisy Ho Chiu Fung<\/strong>, chairman of SJM Holdings, subscribed to and paid for 3.82m rights shares provisionally allotted to her. She subscribed to and paid for 1.85m rights shares. Ho applied for 38.5m excess rights shares. This all cost Ho HK$91.87m and saw her long position in the firm grow from 0.32 per cent to 0.86 per cent.<\/p>\n\n\n\n