ASF Group (ASX:AFA) has launched its 1:10 non-renounceable...

ASF Group (ASX:AFA) has launched its 1:10 non-renounceable pro-rata offer to shareholders of up to 53,240,201 new shares at an issue price of $0.18 per share.

This would raise around $9,583,236 before issue costs.

The Company currently has 532,402,013 shares on issue.

There is no minimum acceptance amount and shareholders can apply for additional shares which will be allocated from any shortfall.

The Directors may at their discretion place any Shortfall to third parties, at not less than the issue price within 3 months of the closing date.


Busy forward program for proposed Gold Coast project

ASF Group and its ASF consortium recently announced that Global Gaming Asset Management (GGAM), one of the world’s leading integrated resort operators, will manage the resort operations of the proposed Gold Coast Integrated Resort and Cruise Ship Terminal project.

ASF’s partners in the consortium include large Chinese groups that include: China Communications Construction Company - third largest construction company in the world, Guangzhou Dredging Co Ltd and China State Construction Engineering Corporation Limited. 

This provides the consortium with the balance sheet depth to provide for development of the proposed project.