Echo Entertainment Group Limited (ASX:EGP) will reportedly reveal the details of its $450 million capital raising today according to The Australian.
In an effort to strengthen its position, the casio operator is expected to offer discounts making it attractive for Echo’s large retail shareholder base.
Echo is expected to announce an accelerated entitlement offer, priced at $3.40 a share, a 24 per cent discount to its closing price of $4.49 before it was placed in a trading halt earlier this week.
Echo revealed last week it was to record a $29.9 million writedown this year, due to its international high-rollers business.
In the first half of its 2012 financial year Echo reported a net profit of $70.2 million.
