SKYCITY Entertainment Group completes institutional entitlement offer

Company News

SKYCITY Entertainment Group (ASX:SKC) has announced it has completed the institutional entitlement offer component of its fully underwritten 1 for 10 rights offer. 
 
A total of NZ$263 million is expected to be raised under the offer. 
 
Approximately $161 million has now been raised under the Institutional Entitlement component, which closed on Thursday 12th of May.
 
The institutional bookbuild will commence today, while the retail component of the offer will open at 10.00am New Zealand time on Tuesday the 17th of May.
 
SKYCITY Entertainment Group reported a net profit of $66.6 million at 31 December 2015