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Genting Shares Tumble Most Since 1998 on Rights Issue Plan

Bloomberg Markets Monday 12 October 2026, 03:07 UTC By Bernadette Toh 1 min read
Key Points

Genting Shares Tumble Most Since 1998 on Rights Issue Plan Genting Bhd. shares plunged by the most in 28 years after the leisure group controlled by Malaysian billionaire Lim Kok Thay announced plans to raise about 1.25 billion ringgit ($306 million) through a renounceable rights issue. The stock fell as much as 17% to 1.56 ringgit, the biggest decline since 1998. The issue price will be fixed at a discount ranging between 25% to 30%, Genting said in a bourse filing on Friday.

Genting Shares Tumble Most Since 1998 on Rights Issue Plan Genting Bhd. shares plunged by the most in 28 years after the leisure group controlled by Malaysian billionaire Lim Kok Thay announced plans to raise about 1.25 billion ringgit ($306 million) through a renounceable rights issue. The stock fell as much as 17% to 1.56 ringgit, the biggest decline since 1998. The issue price will be fixed at a discount ranging between 25% to 30%, Genting said in a bourse filing on Friday. Proceeds raised will be used to repay its borrowings and fund working capital.
Genting Shares Tumble (ORG) Genting Bhd. (ORG) Malaysian (ORG) Lim Kok Thay (PERSON) Genting (ORG)
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