Amax to raise $2m through share placement

Amax International, a gaming company investor and holder of an almost 30 percent stake in the Greek Mythology Casino in Macau, said it plans to raise HK$16 million ($2 million) through a placing of common shares.

In a filing with the Hong Kong Stock Exchange, the company said it planned to use the net proceeds of about $15.74 million for general working capital and further investments.

The 25 million shares will be sold to not fewer than six investors at a price of $0.64 a share.

That represents a discount of about 13.5 percent to the closing price on Sept. 7th and a 19.6 percent discount to the closing price over the past five days.

 The placing shares represent approximately 8.96 percent of the existing issued share capital of the company.