Firm posted USD 43M loss in 2014
Landing International plans financial exercise to generate funds
Chinese real estate developer Landing International Development Ltd. plans to open a fund-raising exercise for the company’s future financing needs.
2015-04-16
Reading time 26 seg
Chinese real estate developer Landing International Development Ltd. plans to open a fund-raising exercise for the company’s future financing needs.
In a filing with the Hong Kong Stock Exchange, Landing says it has officially begun preliminary discussions with financial institutions and shareholders on the possible move. The company clarified that the discussions are still in their initial stages and are subject to further negotiations.
Landing posted a loss of around $43 million in 2014. The amount was largely attributed to expansion costs incurred through Genting Jeju, its newly acquired resort and casino business in South Korea with 50-50 partner Genting Singapore. Landing and Genting have invested close to $2.2 billion on the project.
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