BUZZ-HK-listed Nagacorp sinks to 11-1/2-yr low after founder's death

Reuters2023-12-11

** Shares of Cambodia casino operator Nagacorp Ltd drop as much as 13.2% to HK$2.83, lowest since June 2012

** Stock on track for the biggest one-day pct decline since April 2012 if losses hold; second biggest pct loser in Hang Seng Composite Index

** Co says its founder and senior chief executive officer Chen Lip Keong passed away on Dec. 8 due to illness

** Co names Chen's son, Chen Yiy Fon, as the new chief executive officer

** "The board is of the view that the passing away of Dr. Chen will not have any material impact on the operations of the group" - co

** Hang Seng Composite Index falls 1.4%, Hang Seng Index drops 1.5%

** Stock down 56.6% YTD

(Reporting by Donny Kwok)

((donny.kwok@thomsonreuters.com))

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