Macau Legend Development Ltd has confirmed the final results of its fully underwritten rights issue, with just under half of the new shares subscribed by existing shareholders and applicants for excess shares.
The update was announced after all conditions under the prospectus and underwriting agreement were satisfied, allowing the issue to become unconditional on January 16 2026.
As stated in the filing, the operator received 16 valid acceptances for 98,899,252 Rights Shares, representing 31.90% of the total shares offered. An additional 17 excess applications totaled 54,543,950 shares, accounting for another 17.59%. Combined subscriptions reached 49.49% of the 310,059,356 Rights Shares available.
Due to the significant undersubscription, the remaining 156,616,154 shares, which is about 50.51% of the offer, were taken up by the co-underwriters, East Asia Securities and Platinum Broking, in accordance with their obligations. They and their sub-underwriters will collectively hold 16.84% of the enlarged share capital once the Rights Shares are issued.
Gross proceeds from the offer amount to HK$93m, with estimated net proceeds of HK$86.4m, which will be applied as outlined in the section “Reasons for the Rights Issue and Use of Proceeds” in the prospectus.
Following completion, Macau Legend’s issued share capital will increase to 930,178,068 shares, and public shareholders will hold approximately 39.39% of the Company. Share certificates for fully paid Rights Shares are expected to be dispatched on January 23 2026, with trading set to begin on January 26.
Public float rises to about 39.39% following completion of the Rights Issue
