Genting Hong Kong's Casino JV slashes target of Philippine IPO

Eyes to raise about SGD1.22b.

According to OSK, the proposed initial public offering of a Philippine casino joint venture between Genting Hong Kong and Alliance Global Group looks to raise about SGD1.22b.

An indicative IPO offer price of up to PHP11.8 per share ahead of a targeted Nov 5 listing on Philipines Stock Exchange (PSE) which is down from the initial offer price of PHP23.38 per share. If the IPO is completed, Genting Hong Kong's effective nterestg in Travellers is expected to be diluted to 45% or 44.3%.