The chairman, CEO and executive director of Hong Kong-listed gaming investor Amax International Holdings has “dramatically increased” his holding in the company after exercising conversion rights to convertible bonds, reports Inside Asian Gaming.
In a filing to the HKSE, Amax said Ng Man Sun planned to convert HK$50.5 million (US$6.4 million) in bonds at HK$.30 per share for a total of 168.3 million conversion shares. The shares represent almost 19 percent of the total issued shares of Amax before the conversion and almost 16 percent following enlargement via the allotted amount, IAG reported. Ng’s stake in the company has risen from 6.44 percent to 21.30 percent.
Amax 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.
