Genting to raise RM1.25b via rights issue to repay debt
Genting Bhd plans to raise RM1.25 billion through a renounceable rights issue to pay down short-term debt and bolster working capital. The group's major shareholders have committed to subscribing to 45.1% of the issue.
Why it matters
This capital exercise highlights the group's strategy to manage its significant debt load of over RM45 billion and reduce interest expenses.
BURSA SGX Home Highlight Make The Edge Malaysia your preferred source on Google KUALA LUMPUR (Oct 9): Genting Bhd (KL: GENTING ) plans to raise RM1.25 billion through a renounceable rights issue to repay maturing debt and fund working capital.
The gaming, leisure and hospitality group intends to allocate RM800 million of proceeds to repay borrowings due within 12 months of the completion of the proposed exercise, according to a bourse filing on Friday. The remaining proceeds will be used for working capital.
Based on the group’s weighted average interest rate of 5.16% per year on short-term borrowings as at June 30, 2026, the debt repayment is expected to generate annual interest savings of RM41.3 million, Genting said.
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