the rights issue is not to trigger MGO since the total holding already 45%. they just want to buy more shares with discounted price but can't do private placement as majority shareholders can't subscribe. and if buy from open market, would pump up the price easily. so best is to issue right and depress the price further.

question is how the boss gonna cover his margin. he would need to spend more on that. probably he bought a lot of put warrants via his proxies. we never know. so even the price depress, the boss still earn

Gent's positive rerating will be dependent on RWLV, RWS, RWNYC and RWG recovery - higher ebitda and margin; the four largest assets by net book value of its properties. The GenM privatisation until it actually happens, will path the way for US assets listing.

Current market price for Gent is too tempting. Originally wanted to wait for Q3 results to decide but market actions trying to influence/change my decision for Gent :) will observe and see whether market price will test the 25% to 30% range from Friday closing price; the first announcement for rights issue. Will consider to add some if it arrives to round up my position for the ease of rights calculation.

The rights issue is expected to complete by q1'27. If mgmt initiate a second rights issue or pp thereafter instead of dispose non core assets assuming RWLV, RWS and RWNYC recovery phase stalls, market will sell it down again and will go below 1.00

don't you think this is a properly timed maneuver by the boss? critical window for taurx announcement, Dec timeline for the takeover offer and also Q3 results in Nov. all just merely for a rm800 mil debt pare down while wiping off rm2 bil market capital in gent alone. yet to factor genm market capital.

sell non-core assets as we discussed yesterday :) Not surprising there are doubts on the actual purpose for the 1.25bil rights issue :) and the boss will contribute slightly more than 500mil into the 1.25bil bucket. Likely to see some shareholding changes once the rights issue exercise is completed.

no need investment bank or analysts to tell us. we also know that it needs to sell assets to pare down debts. however if look back the past 3 years, Genting boss refused to sell assets even though there were some MOUs and arrangements of selling Miami Land and Catskill which both also got cancelled by Genting.

consolidated cash and non cash assets ~100bil assuming its unrestricted. 18bil cash, 47bil net book value of physical properties held while total debt at 45bil. 1.25bil rights issue which will help to save interest of 40mil to 60mil in the next 12 months at the back of 25% to 30% discount to TERP price :)

Not sure about other options but there's one side door way which is through SPAC merger but unlikely for the boss to go that route. Another route is how MI list its SMBU segment in Singapore but it will be more complicated for Genting bcos RWLV is parked under Gent, RWLV LLC while the rest of the US assets are parked under GenM. The company structure is complicated in layers. RWNYC new casino license plus bil dollar expansion story will be a more compelling story for listing in the US rather than RWLV recovery story or Catskills/Hudson Valley/Bimini Resort:)

The Proposed Rights Issue is subject to the following approvals/consents being obtained from: (i) Bursa Securities for the listing of and quotation for the Rights Shares to be issued pursuant to the Proposed Rights Issue on the Main Market of Bursa Securities; (ii) shareholders of GENT at an extraordinary general meeting to be convened; and (iii) any other regulatory authorities and/or parties, if required

its the rights issue announcement effect now aka the stock price behavior / reaction upon rights issue announcement :) The Board intends to fix the Issue Price at a discount ranging between twenty five% to thirty% to the TERP based on the five-day VWAP of GENT Shares preceding the Price Fixing Date (rounded to the nearest whole sen). The theoretical ex-rights price (“TERP”) of GENT Shares based on the five-day volume weighted average price (“VWAP”) of GENT Shares preceding the Price-Fixing Date. The issue price of the Rights Shares (“Issue Price”), entitlement basis and entitlement date (“Entitlement Date”) for the Proposed Rights Issue have not been determined at this juncture and will only be determined and announced by the Board closer to the implementation of the Proposed Rights Issue in order to provide flexibility to the Board.

Normal adverse reactions as the rights issue solely for loan repayments and working capital instead of positive expansion plan. TERP could be very low based on 5-day VWAP Price Fixing. In addition to this rights issue, they will still need to pare down on their borrowings via non core asset sales as soon as possible in order to rollover their existing short term borrowings.

prices can go up and down.No body can predict the weather what more.the market.? if a sifu can predict the prices, why tell others?Be quiet and buy and sell and make money yourself!So smart , can be rich! NEVER believe in Sifu!
So much guess work. Full
of gas!!!!
Any fool can give his opinion.
Analyst, soothsayer. magician! All sort of characters, GASBAGS
Just try your luck! who knows? lucky pick!

only the boss knows the intention of making such an announcement at this juncture - full subscription basis at such discount. And the boss made it a full subscription basis - someone else will buy the rights renounced by shareholders.

Uncle see this Siew Hock Huang must be a newbie. Look at all the true superinvestors and even traders they share their picks and knowledge freely sharing does not diminish our returns one look and Uncle already know this Siew has a scarcity mindset like all the failed traders where they think only in terms of win-lose.

Hope all Uncle followers learnt something today how u think shapes your investment decisions n if follow the Legendary Uncle Wong u too can be a superinvestor it is free forever

Bursa query on the huge discount and the reply from Gent - discount is intended to enhance the attractiveness of
the Rights Shares, encourage shareholder participation, reward Entitled Shareholders for their
continuous support of the Company, facilitate a higher subscription level and improve certainty
of raising the Intended Gross Proceeds.

Useless to stuck money this counter will took very very very ling time to recover. Be prepare to stuck money for long time which increase the risk factor due to Low revenue growth but high speed debt growth . Meaning Low and long time for return but high risk .

Probably we should expect to see more actions from Genting New York LLC the commercial gaming license holder for RWNYC. The funding for the 5bil expansion kinda secured after all. https://www.spglobal.com/ratings/en/regulatory/article/-/view/type/HTML/id/3591376