• Shangri-La rights issue

Shangri-La Asia is to raise HKD5.23bn in a rights issue on the Hong Kong market. The company will use the majority of the funds to pay off bank loans, with the balance spent on existing and new hotels, reports Bloomberg.

The terms of the offer will be one for seven, adding up to 471 million new shares. Shangri-La shares have fallen 27% this year. 
Read the full story here:
http://www.bloomberg.com/news/2014-10-23/shangri-la-asia-to-raise-up-to-674m-in-rights-offer.html
 
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