{"id":777014156,"date":"2024-03-21T08:30:17","date_gmt":"2024-03-21T11:30:17","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=777014156"},"modified":"2026-04-22T11:50:03","modified_gmt":"2026-04-22T14:50:03","slug":"shin-hwa-world-raises-us3-67m-through-share-subscription-agreement","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/shin-hwa-world-raises-us3-67m-through-share-subscription-agreement","title":{"rendered":"Shin Hwa World raises US$3.67m through share subscription agreement"},"content":{"rendered":"\n<p>The company issued 845.25 million new shares to fund upgrades and maintenance at Jeju Shinhwa World.<\/p>\n\n\n\n<!--more-->\n\n\n\n<p>South Korea.-\u00a0<strong>Shin Hwa World Limited<\/strong>\u00a0has raised about HK$28.74m (US$3.67m) through a share subscription agreement. It <a href=\"https:\/\/focusgn.com\/asia-pacific\/shin-hwa-world-announces-share-issuance-to-raise-funds-for-jeju-revamp\" target=\"_blank\" rel=\"noreferrer noopener\">issued 845.25 million subscription shares<\/a>\u00a0at HK$0.034 per share. The public float has decreased from 38.14 per cent to 31.78 per cent.<\/p>\n\n\n\n<p>The proceeds will be used to upgrade, repair and maintain the building, equipment and facilities at <strong>Jeju Shinhwa World<\/strong>\u00a0(approximately HK$14m), to pay off interest expenses (HK$10m), for sales and marketing (HK$4.5m) and general working capital.<\/p>\n\n\n\n<p>The company&#8217;s founding chairman,&nbsp;<strong>Yang Zhihui<\/strong>, who&nbsp;<a target=\"_blank\" href=\"https:\/\/focusgn.com\/asia-pacific\/yang-zhihui-steps-down-as-chairman-of-shin-hwa-world\" rel=\"noreferrer noopener\">stepped down as director of the company<\/a>&nbsp;in June 2023, remains the largest single private shareholder despite a dilution of his stake from 35.06 per cent to 29.21 per cent. Yang indirectly holds over 1.48 billion shares through Landing International, a company he wholly owns.&nbsp;<\/p>\n\n\n\n<p><strong>Shin Hwa World Limited\u00a0<\/strong>has not yet shared financial results for the year 2023. However, the company said it expects to record a consolidated net loss of approximately HK$450m (US$57.5m) to HK$540m (US$69m). It attributed the increase in losses to a decrease in revenue in its integrated resort segment due to lower room prices and occupancy rates due to intense competition and domestic customers travelling abroad after the easing of travel restrictions.\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The company issued 845.25 million new shares to fund upgrades and maintenance at Jeju Shinhwa World.<\/p>\n","protected":false},"author":176,"featured_media":22179,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"Shin Hwa World Limited has secured HK$28.74m through a share subscription to fund upgrades at Jeju Shinhwa World, cover interest expenses, and bolster sales and marketing. This capital raise led to a dilution of the public float and a key shareholder's stake, amidst an anticipated consolidated net loss for 2023 driven by intense market competition and reduced integrated resort segment revenue.","focusai_entities":"Shin Hwa World Limited, Jeju Shinhwa World, Yang Zhihui, Landing International","focusai_location":"South Korea, Jeju","focusai_target_profile":"ceo_executive (0.9), regulator (0.7), compliance_legal (0.7), operator_casino (0.9), marketing_crm (0.7), investor_analyst (1.0), supplier_vendor (0.8), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Capital Allocation Impact","query":"How will the HK$14m allocated for Jeju Shinhwa World's upgrades specifically enhance its competitive positioning and revenue generation capabilities in the saturated integrated resort market?"},{"label":"Shareholder Structure Implications","query":"What are the long-term governance implications of the decreased public float and the founding chairman's diluted but still dominant stake in Shin Hwa World Limited?"}],"footnotes":""},"categories":[16338,163],"tags":[23632,24342],"class_list":["post-777014156","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-east-asia-news","category-finance-news","tag-integrated-resorts","tag-shin-hwa-world"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777014156","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=777014156"}],"version-history":[{"count":2,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777014156\/revisions"}],"predecessor-version":[{"id":777014177,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777014156\/revisions\/777014177"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/22179"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=777014156"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=777014156"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=777014156"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}