Scientific Game

Asia Pioneer Entertainment announces 15 November Hong Kong listing date

Tuesday, 31 October 2017 05:46
Visit us

Macau-based electronic gaming equipment supplier Asia Pioneer Entertainment Holdings Limited is set to commence trading on the Growth Enterprise Market of The Hong Kong Stock Exchange on Wednesday 15 November after announcing details of its proposed listing on Monday.

APE plans to offer a total of 250 million shares comprising 25 million public offer shares and 225 million placing shares at an offer price between HK$0.24 and HK$0.36 per offer share. The public offering will open at 09:00 today (Tuesday 31 October 2017) and close at 12:00 on Friday 3 November.

APE is one of seven gaming machine agents in Macau approved by the DICJ to supply equipment to all six concessionaires and is the city’s largest electronic table game (ETG) supplier by revenue with 30.4% market share. Its operations includes the technical sales and distribution of electronic gaming equipment to casino operators, the provision of consulting services to manufacturers and technical services to both manufacturers and casino operators and the provision of repair services to casino operators.

APE’s Chairman, Allen Huie, said at press conference in Hong Kong attended by IAG on Monday that proceeds from the share offer would be used to source new products for the Macau market and to refurbish older machines. The company will also look at leasing equipment to Macau operators.

Southwest Securities (HK) Capital Limited is sole sponsor of the share offer and will act alongside Supreme China Securities Limited as joint bookrunners and joint lead managers.

In total, the offer will see 27.49% of APE’s existing shares go public with the other 72.51% held by directors of the company.

APE booked revenues in 2015 and 2016 of HK$48.17 million and HK$52.58 million respectively with net profit of approximately HK$12.76 million and HK$13.89 million.

It will list on the Hong Kong Stock Exchange under the stock code 8400.


What's new

VIDEO: Week in Review

VIDEO: Week in Review Inside Asian Gaming takes a look back at the biggest stories of the past week. Friday, 25 May 2018 06:54

Macau May GGR in line for high-teen growth

Macau May GGR in line for high-teen growth Macau is on track to report a year-on-year GGR increase of between 17% and 19% in May, say analysts, after rebounding strongly from the Labor Day holiday weekend. According to JP Morgan’s DS Kim, mass market is leading the way with growth of more than 20% year-on-year while VIP GGR is tracking in... Friday, 25 May 2018 06:36

PAGCOR says officials safe after Duterte gambling comments

PAGCOR says officials safe after Duterte gambling comments Philippines gaming regulator PAGCOR says that its leaders are safe following reports this week that a number of high-ranking gaming officials were set to be fired by President Rodrigo Duterte. PAGCOR was quick to absolve itself of any link to comments made by Duterte after he asked two ranking offi... Friday, 25 May 2018 05:43

Genting Berhad sees 10% growth in 1Q18 on Malaysia, Singapore IRs

Genting Berhad sees 10% growth in 1Q18 on Malaysia, Singapore IRs Genting Berhad saw its revenue grow 10% to RM5.3 billion for the three months to 31 March 2018, boosted by its leisure and hospitality segment and in particular strong results at its flagship integrated resorts in Malaysia and Singapore. Malaysia’s Resorts World Genting (RWG) enjoyed the biggest ... Friday, 25 May 2018 04:59

Current Issue

Macau and Japan: Licensing looms large

Macau and Japan: Licensing looms large The next few years are set to be the most crucial period ever in the Asian gaming industry – one which will lay the ground rules for decades to come in the world’s largest gaming market and what’s set to become the world’s second largest. By Ben Blaschke and Andrew W Scott Macau and Japan ... Monday, 30 April 2018 12:39

Pachinko: Japan's Unlucky Loser

Pachinko: Japan's Unlucky Loser Japan’s preparations for integrated resorts are hitting pachinko harder than the actual casinos ever will. By Muhammad Cohen Japan won’t open its first integrated resort for years, if ever, but the IRs already have their first loser, the country’s unique and ubiquitous pachinko business. Pac... Monday, 30 April 2018 12:33

Responsible Gaming in Japan: Bill to be key to Japan’s Gaming Market

Responsible Gaming in Japan: Bill to be key to Japan’s Gaming Market Global Market Advisors’ Brendan D Bussman runs through the pros and cons of Japan’s problem gambling legislation. By Brendan D Bussmann As Japan continues to look at the development of integrated resorts (IR), many people engaged and following the market are focused on the IR Implementation Bi... Monday, 30 April 2018 12:28

Safety First

Safety First The International Association of Gaming Advisors (IAGA) will hold its 37th annual International Gaming Summit during G2E Asia from 14 to 16 May at Four Seasons Macao. Among the many insightful seminars and events that will comprise IAGA’s summit is a responsible gaming workshop to be held on Wedne... Monday, 30 April 2018 12:12