Skycity $50 million SPP gets robust backing

SkyCity Entertainment Group Limited (ASX:SKC) announced that it received strong support from shareholders for its $50 million share purchase plan (SPP), with total applications of nearly $45.6 million.

  • The SPP enabled shareholders in NZ or Australia to subscribe for up to a maximum of NZ$50,000/A$47,000 of new SkyCity shares
  • The SPP was fully underwritten and the shortfall of about $4.4 million shall be allocated to existing shareholders
  • Settlement of the SPP and allotment of the new shares is likely to occur on 9 July 2020

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