Gaming resort operator Okada Group dropped its backdoor listing plan after selling its entire stake in listed dormant company Asiabest Group International
Inc. to a consortium led by PremiumLands Corp. owned by businessman Francis Lloyd Chua for P510.4 million.
From a 52-week low of P2.66 per share, the stock price of Asiabest surged more than 900 percent to a 52-week high of P27.55. TRAL acquired Asiabest in 2019 as part of its plan to list its $2.4-billion integrated resort and casino Okada Manila in the local bourse.
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