{"id":777010286,"date":"2023-10-19T08:00:26","date_gmt":"2023-10-19T11:00:26","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=777010286"},"modified":"2026-04-22T17:00:43","modified_gmt":"2026-04-22T20:00:43","slug":"the-star-entertainment-group-completes-us487m-entitlement-offer","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/the-star-entertainment-group-completes-us487m-entitlement-offer","title":{"rendered":"The Star Entertainment Group completes US$487m entitlement offer"},"content":{"rendered":"\n

New shares will be allotted today and will commence trading on ASX on October 20.<\/p>\n\n\n\n\n\n\n\n

Australia.- The Star Entertainment Group Limited<\/strong> has announced it has completed a retail entitlement offer raising approximately AU$184m at AU$0.60 per new share<\/strong>. <\/p>\n\n\n\n

The company\u00a0had made a 1 for 1.65 accelerated non-renounceable entitlement offer<\/a>\u00a0on September 25, 2023. The capital-raising initiative also included an institutional entitlement offer and an institutional placement, which were finalised on September 27. The offer and placement generated AU$750m (S$487m).<\/p>\n\n\n\n

According to the casino operator, approximately 6,700 valid applications were received for retail entitlements, amounting to roughly AU$72m and representing a take-up rate by eligible retail shareholders of approximately 39 per cent.<\/p>\n\n\n\n

The company said that approximately 187 million new shares that were not taken up under the retail entitlement offer would be allotted to sub-underwriters. The new shares issued as part of the retail entitlement offer will be allotment today (October 19) and will commence trading on the ASX on a regular settlement basis from October 20, 2023. They will have equal standing with existing shares.<\/p>\n\n\n\n

In its financial results for the fiscal year 2023<\/a>, The Star Entertainment Group reported that its net loss grew from AU$203m in the prior year to AU$2.44bn (US$1.57bn). The company reported a 22 per cent year-on-year increase in gross revenue to AU$1.86bn (US$1.20bn) and a 34 per cent increase in EBITDA to AU$317m (US$204m).<\/p>\n","protected":false},"excerpt":{"rendered":"

New shares will be allotted today and will commence trading on ASX on October 20.<\/p>\n","protected":false},"author":176,"featured_media":25794,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"The Star Entertainment Group has completed its retail entitlement offer, raising approximately AU$184m at AU$0.60 per new share, as part of a broader AU$750m capital-raising initiative. New shares will commence trading on the ASX on October 20, following a 39% take-up rate by eligible retail shareholders and allotment of unsubscribed shares to sub-underwriters. This capital injection follows the company's reported FY23 net loss of AU$2.44bn, despite a 22% increase in gross revenue and a 34% increase in EBITDA.","focusai_entities":"The Star Entertainment Group Limited, ASX","focusai_location":"Australia","focusai_target_profile":"ceo_executive (0.9), regulator (0.7), operator_casino (0.9), investor_analyst (1.0), supplier_vendor (0.75), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Impact on Debt Leverage?","query":"What is the projected impact of this AU$750m capital injection on The Star's debt leverage and its capacity to fund future strategic initiatives or regulatory remediation efforts?"},{"label":"Investor Confidence Signal?","query":"Given the 39% retail take-up rate, what does the sub-underwriter allocation signify regarding broader investor confidence in The Star's turnaround strategy and long-term equity value?"}],"footnotes":""},"categories":[16336,163],"tags":[24103],"class_list":["post-777010286","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-australasia-news","category-finance-news","tag-star-entertainment-group"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777010286","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/users\/176"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=777010286"}],"version-history":[{"count":3,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777010286\/revisions"}],"predecessor-version":[{"id":777041116,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777010286\/revisions\/777041116"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/25794"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=777010286"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=777010286"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=777010286"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}