{"id":777032675,"date":"2025-10-06T08:10:30","date_gmt":"2025-10-06T11:10:30","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=777032675"},"modified":"2026-04-21T18:30:51","modified_gmt":"2026-04-21T21:30:51","slug":"macau-legend-plans-to-raise-us12m-via-new-rights-share-issue","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/macau-legend-plans-to-raise-us12m-via-new-rights-share-issue","title":{"rendered":"Macau Legend plans to raise US$12m via new rights share issue"},"content":{"rendered":"\n

The company intends to use the net proceeds as general working capital.<\/p>\n\n\n\n\n\n\n\n

Macau.- Macau Legend Development<\/strong> has proposed a rights issue with the intention of raising HKD93m (US$12m)<\/strong> through the issue of 310,059,356 rights shares<\/strong> at HK$0.3 each on the basis of one rights share for every two existing shares on the record date. The move will increase its issued share capital by 50 per cent<\/strong>. Net proceeds will be used for general working capital.<\/p>\n\n\n\n

\u201cThe rights issue is only available to the qualifying shareholders and will not be extended. The company expects the first day of dealing to be December 2<\/strong>.<\/p>\n\n\n\n

for the first half of 2025<\/a>, company revenue totalled HKD168.1m (US$21.5m), down 7.6 per cent year-on-year. The company reported a loss of HKD1.42bn (US$182.1m). That\u2019s a deterioration from the HK$110m (US$14m) loss in the same period last year.<\/p>\n\n\n\n

First-half adjusted earnings before interest, taxation, depreciation, and amortisation (EBITDA) were HKD34.7m, down 67.5 per cent year-on-year. Net current liabilities totalled HKD2.56bn (US$328.3m) as of June 30. The group posted an impairment loss of HKD1.27bn (US$162.9m) related to assets at Macau Fisherman\u2019s Wharf, where Legend Palace Casino is to close by December 31 as Macau phases out its satellite casino system<\/a>.<\/p>\n\n\n

\n\t\t\tSee also:<\/span><\/p>\n
\n\t\t\t\t\"\"<\/p>\n

\n\t\t\t\t\tSee also:<\/span> Macau casino revenue to rise by over 13% in October, Seaport predicts<\/a>\n\t\t\t\t<\/p>\n<\/p>\n<\/div>\n<\/div>","protected":false},"excerpt":{"rendered":"

The company intends to use the net proceeds as general working capital.<\/p>\n","protected":false},"author":226,"featured_media":777032678,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"Macau Legend Development proposes a HKD93m (US$12m) rights issue for general working capital amidst significant financial deterioration, reporting a HKD1.42bn loss and a 67.5% EBITDA decline. The company also recorded a substantial impairment loss related to Macau Fisherman\u2019s Wharf assets, coinciding with the impending closure of its Legend Palace Casino due to Macau's satellite casino system phase-out.","focusai_entities":"Macau Legend Development, Legend Palace Casino, Macau Fisherman\u2019s Wharf","focusai_location":"Macau","focusai_target_profile":"ceo_executive (0.9), regulator (0.7), compliance_legal (0.7), operator_casino (0.9), investor_analyst (1.0), supplier_vendor (0.7), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Capital Structure Impact","query":"What is the projected dilution effect of this rights issue on existing shareholders, and how does it align with Macau Legend Development's long-term capital structure strategy given its current liabilities?"},{"label":"Regulatory Transition Strategy","query":"How does Macau Legend Development plan to mitigate the ongoing financial impact of the satellite casino phase-out, and what are its strategic alternatives for the Macau Fisherman\u2019s Wharf assets post-Legend Palace Casino closure?"}],"footnotes":""},"categories":[16338,163],"tags":[24619,23906,22593],"class_list":["post-777032675","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-east-asia-news","category-finance-news","tag-finance","tag-macau-casinos","tag-macau-legend"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777032675","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\/226"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=777032675"}],"version-history":[{"count":6,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777032675\/revisions"}],"predecessor-version":[{"id":777032694,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777032675\/revisions\/777032694"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/777032678"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=777032675"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=777032675"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=777032675"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}