LRWC board oks 250-M shares offer

Listed hotel and recreation firm Leisure and Resorts World Corp.’s (LRWC) board approved the company’s plan to sell about 250-million preferred shares, which will require regulatory approvals.

In a regular meeting held on Friday, the board of directors of LRWC approved the company’s plan to offer 250-million perpetual preferred shares with 12.5 million detachable warrants issued free of charge, as well as the 12.5 million underlying common shares.