The company has announced its capital reorganisation will become effective on June 17.<\/p>\n\n\n\n\n\n\n\n
South Korea.- Shin Hwa World Limited<\/strong>, the former\u00a0Landing International Development<\/a>,\u00a0<\/strong>has announced that its capital reorganisation will take effect following approval from shareholders at a special general meeting on Thursday (June 13). The adjusted shares will begin trading on the Hong Kong Stock Exchange starting at 9am on Monday, June 17. <\/p>\n\n\n\n Shareholders have also given the green light to the company’s proposed rights issue, which aims to raise approximately HK$309.3m (US$39.5m).<\/p>\n\n\n\n The capital reorganisation had been announced in April<\/a>. The company will consolidate every ten shares worth HK$0.01 into one share worth HK$0.10. The company expects to generate a surplus of HK$45.6m based on approximately 5.07bn existing shares.\u00a0The rights issue will offer\u00a0two rights shares for every one adjusted share<\/strong> at a subscription price of HK$0.26 per rights share.\u00a0<\/p>\n\n\n\n Approximately HK$73m will\u00a0be used\u00a0for the development of\u00a0the Resort Business and Gaming Business of the Group\u00a0such\u00a0as service enhancement, supply chain management, human resources development\u00a0as\u00a0well as\u00a0sales and marketing activities, while HK$50m will be used for interest expenses\u00a0and HK$35.6m for general working capital.<\/p>\n\n\n\n In March, the company raised HK$28.74m (US$3.67m)<\/a> through a share subscription agreement. It issued 845.25 million subscription shares<\/a> at HK$0.034 per share.<\/p>\n","protected":false},"excerpt":{"rendered":" The company has announced its capital reorganisation will become effective on June 17.<\/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's capital reorganisation, including a 10-for-1 share consolidation, will become effective on June 17, with adjusted shares trading on the Hong Kong Stock Exchange. Shareholders also approved a rights issue aiming to raise HK$309.3m, primarily allocated to the development of its Resort and Gaming Businesses, interest expenses, and general working capital.","focusai_entities":"Shin Hwa World Limited, Landing International Development","focusai_location":"South Korea, Hong Kong","focusai_target_profile":"ceo_executive (0.9), operator_casino (0.8), marketing_crm (0.7), investor_analyst (1.0), supplier_vendor (0.7), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Capital Allocation Impact","query":"How will the HK$73m allocated to the Resort and Gaming Businesses specifically enhance GGR and NGR, and what are the projected timelines for these improvements?"},{"label":"Shareholder Value","query":"What is the anticipated dilution effect of the rights issue on existing shareholders, and how does the company plan to mitigate this through future growth?"}],"footnotes":""},"categories":[157,16338],"tags":[24342],"class_list":["post-777016429","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-news","category-east-asia-news","tag-shin-hwa-world"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777016429","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=777016429"}],"version-history":[{"count":2,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777016429\/revisions"}],"predecessor-version":[{"id":777016463,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777016429\/revisions\/777016463"}],"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=777016429"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=777016429"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=777016429"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}