Silver Heritage seeks $20.5 million via IPO

Hong Kong-based casino manager and owner Silver Heritage is seeking to raise A$27.5 million (US$20.5 million) via an initial public offering (IPO), reports the Australian Financial Review.

If successful, the company would be listing with a $78.6 million market capitalisation in late July said the AFR quoting terms sent to potential backers.

Existing investors include Regal Funds Management, GZ Fund LLC and directors & management, with Silver Heritage management expected to meet potential investors next week.

Silver Heritage owns and operates casinos and gaming clubs across Asia, including Cambodia, Laos, Nepal and Vietnam.