Michael Burry warns of ‘suspicious revenue recognition’ after Nvidia earnings
LONDON - Macau Property Opportunities Fund Limited (LSE:MPO) announced on Monday a placing of new ordinary shares to raise a minimum of £1.7 million to meet near-term liquidity requirements and debt obligations.
The placing will comprise an issuance of up to 12,367,146 new ordinary shares through a bookbuild process launched immediately following the announcement, with Panmure Liberum acting as bookrunner.
The company stated that proceeds will be used to satisfy scheduled loan repayments due in December 2025 and meet other working capital needs. The strike price is not expected to be less than 13.75 pence per share.
According to the press release, MPO has successfully divested assets amounting to approximately $43 million over the sixteen-month period up to November 14, reducing its total indebtedness by 44 percent from $82.8 million as of June 2024 to $46.5 million.
However, the company noted that amid tightening credit conditions, the majority of sale proceeds have been allocated toward deleveraging, with limited available funds for working capital and immediate debt servicing.
The company has secured extensions for its loan facilities for The Waterside and The Fountainside properties to September 2026, while its Penha Heights unit's loan facilities have also been extended with interim payments due in December 2025.
Applications will be made for admission of the new shares to the Official List and to trading on the London Stock Exchange's main market, with dealings expected to commence on December 8, 2025.
The board indicated it may seek additional capital in the coming months after the UK Public Offers and Admission to Trading Regulations come into force on January 19, 2026.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.