recent an entitlement offer<\/a><\/em><\/strong> Donaco placed for AU$14.41million (US$9.9 million).<\/p>\n\n\n\nThe company announced at the beginning of July it was planning to raise its equity to obtain necessary capital to face the economic impact of the Covid-19 pandemic, particularly the effect on gaming revenue at its Vietnam and Cambodia casinos.<\/p>\n\n\n\n
Under that agreement, underwriters Lee Bug Huy and Lee Bug Tong increased their participation in Donaco International from 17.99 per cent to 42.12 per cent.<\/p>\n\n\n\n
Huy, as vice president at Star Vegas Casino & Resorts, has been responsible for developing the model for the slot machine business. He was also an executive director of Donaco in 2015, and came back now as non-executive director.<\/p>\n\n\n\n
Amatavivadhana is a founding principal and CEO of Infinite Capital, a boutique corporate advisory firm based in Bangkok. He is also an independent director at Sansiri Plc, one of the largest real estate developers in Thailand, and had a previous tenure as non-executive director of Donaco in 2015.<\/p>\n","protected":false},"excerpt":{"rendered":"
The appointments come due to conditions of a recent entitlement placement through which the company obtained around US$9.9 million.<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"Donaco International Limited has appointed two new non-executive directors, Lee Bug Huy and Paul Porntat Amatavivadhana, following a US$9.9 million entitlement offer. This capital raise was necessitated by the economic impact of the Covid-19 pandemic on its Vietnam and Cambodia casino gaming revenues, leading to a significant increase in ownership by key underwriters.","focusai_entities":"Donaco International Limited, Lee Bug Huy, Paul Porntat Amatavivadhana, Lee Bug Tong, Star Vegas Casino & Resorts, Infinite Capital, Sansiri Plc","focusai_location":"Australia, Vietnam, Cambodia, Bangkok, Thailand","focusai_target_profile":"ceo_executive (0.9), operator_casino (0.8), investor_analyst (1.0), supplier_vendor (0.7), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Strategic Ownership Implications?","query":"What are the strategic implications of the increased ownership stake by Lee Bug Huy and Lee Bug Tong on Donaco's future operational strategy and potential M&A activities?"},{"label":"New Directors' Impact?","query":"How will the new non-executive directors' expertise, particularly in casino operations and corporate advisory, influence Donaco's post-pandemic recovery and market positioning in Vietnam and Cambodia?"}],"footnotes":""},"categories":[16336,157],"tags":[289,966],"class_list":["post-8691","post","type-post","status-publish","format-standard","hentry","category-australasia-news","category-business-news","tag-australia","tag-donaco"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/8691","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\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=8691"}],"version-history":[{"count":3,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/8691\/revisions"}],"predecessor-version":[{"id":8712,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/8691\/revisions\/8712"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=8691"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=8691"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=8691"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}