Amax International Holdings Ltd. is continuing its rapid progress in the gambling sector focusing on its Asia-based ventures. The gaming investment company has recently announced its intent to amass a certain amount of money which is going to be later utilized for the future projects of the firm and in its general working process.
The international corporation is aiming to raise gross proceeds amounting to HK$7 million (UK$894,622) for the development of the brand, and the way this is going to happen is by a placing and subscription of as many as 20 million placing shares. This marks a very beneficial period for traders and investors alike, who are willing to put their money in the prosperous company. The current stock market environment is granting them with the opportunity to guarantee a mutual profit for both their own brands and Amax International. At the moment, the company is experiencing a period of uptrend of its stocks, meaning that there is a lot of interest towards the shares of Amax International since they have a subscription value amounting to HK$0.35 per unit.
In a recent filing to the Hong Kong Stock Exchange, the company announced that these placing shares which are going to benefit the progress of the company are estimated to make up about 3.23 percent of the total issued share capital of Amax International. There are six placees which have expressed their interest towards the subscription and are legally allowed to do so. According to the legislations existing in the region, they must be independent third parties. Estimations show that the net profit amassed by the process would reach about HK$6.64 million.
Rapid Development in the Gambling Sector
Amax International is planning to branch out towards a Cambodian casino, which remains unknown for the time being. The leading company intends to operate a VIP room in it and heavily invest in it, in order to meet the high standards of the high-profile VIP room players. The two-year-period of the collaboration between the two entities has been disclosed in a Monday filing. Amax International has already inked a non-binding letter of intent in relation to the partnership and the casino operator has been offered an exclusive period to negotiate with the company, which is appointed to end by the 30th October.
The investor has also recently applied to a Court in Macau, in order to make Ng Man Sun, Chairman and Chief Executive of the corporation, responsible for a company member of the business group. This move will provide unlimited access to the books and record of Greek Mythology Macau Entertainment Group Corp Ltd. As it became known, Amax is currently owning about 24.8 percent of the gaming tables operator.