Amax International Holdings Chairman and CEO, Ng Man Sun, has boosted his shareholding in the company for the second time this month after exercising conversion rights to a second batch of convertible bonds.
Amax announced on Tuesday that it had issued Ng with 130 million conversion shares worth HK$39 million, boosting his holding in the company from 21.30% to 29.90%. Earlier this month he exercised rights to an initial 168,333,333 shares worth HK$50.5 million, lifting his holding in the company from 6.44%.
Ng’s holding has now increased almost five-fold since the start of February.
Amax currently operates a gaming business in Vanuatu under an interactive gaming license and a VIP room with 13 baccarat tables at Genting Crown Casino in Poipet Cambodia. It also recently signeda Service Agreement to provide technical and pre-opening services for a new casino project in Sihanoukville, Cambodia.
The company announced over the weekend that it had written off its 24.8% stake in shuttered Macau casino Greek Mythology, valued at more than HK$353 million (US$45 million), after making little progress in an ongoing dispute with the former managers of the property.
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