GentingHK continues to attract investor interest . However, given that Lim Kok Thay directly owns a 67.5% stake in the cruise/casino operator, any fund raising likely to be in the form of a share placement or convertible equity issue instead of rights. While current net gearing is comfortable 24%, we do not rule out the group raising cash for its expansion or future gaming ventures, even though much of it is carried off balance sheet under JVs or associates.
Stock likely to take a breather after its 47% surge over past 2 days.
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