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Summit Ascent to sell 52 million shares to fund Russia expansion
Thursday 24th of April 2014
Summit Ascent, led by billionaire Lawrence Ho, is selling 52 million shares, or 7 percent of the company, to finance plans to raise its stake in a Russian casino venture. The shares will be sold for HK$11.30 each and are expected to raise HK$566 million, ($73 million). That price is a discount to the company’s last traded price of HK$12.86.
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