Genting Shares Post Sharpest Drop in Nearly Three Decades After Debt-Focused Rights Issue

Shares of Malaysian conglomerate Genting Berhad tumbled as much as 17 per cent on October 12, 2026, marking the stock’s steepest single-day decline since 1998. The sell-off followed the company’s announcement of a rights issue intended to raise approximately RM1.25 billion (roughly US$300 million), a move that has unsettled investors amid broader concerns over the group’s leverage and earnings trajectory. Under the proposed renounceable rights issue, Genting plans to offer new ordinary shares at an illustrative price of RM1.30 per rights share.