Palasino Holdings, a Czech gaming and entertainment company and a subsidiary of the Far East Consortium, plans to raise approximately HK$323.4 million ($41.4 million) through its initial public offering (IPO) of shares.
According to the filing submitted to the Hong Kong Stock Exchange on Monday, the company intends to globally offer approximately 142.86 million shares. Out of these, 85.71 million will be newly issued shares and 57.14 million will be existing shares. Additionally, 10 percent of the offering will be allocated to the public of Hong Kong.
Palasino Holdings operates three casinos in the Czech Republic, including one within an integrated resort. Official data suggest that most players frequenting these venues come from neighboring Austria and Germany. Additionally, the company manages three hotels in Germany and one in Austria.
The initial public offering began on Monday and is scheduled to conclude at 12 p.m. on Thursday, March 21st.
Palasino Holdings expects to debut trading on the Hong Kong Stock Exchange on March 26th. This is contingent upon the global offering becoming unconditional by or before 8 a.m. in Hong Kong on the same day.
