The company said in a filing on Friday that the outstanding shares will account for about 3.88% of all outstanding shares due to the placement and issuance of shares.
The buying price per share is 9.27% off the value of LET Group shares as of Friday's market close on the Hong Kong Stock Exchange.
The company said "more than six" recipients, who are independent of the company, are expected to acquire the shares.
LET Group said in a Friday filing that it plans to apply HK$19 million in its net placement process for the "interest repayment" of the HK$400 million outstanding loan provided to the company by "four independent third-party lenders" in September.
LET Group also plans to use HK$10 million in a net placement process to "settle the clearing fee" on revolving loans of up to HK$500 million offered by Summit Ascent Holdings, a deal announced last month.
It added that the remaining net income of about HK$19.5 million would go to ordinary working capital.
LET Group, formerly known as Suncity Group Holdings Ltd, was interested in several casino projects in the Asia-Pacific region, including Vietnam and the Philippines.
The company also has an interest in its hotel and gaming business at Tigre de Crystal in the Maritime Integrated Entertainment Zone near the Russian Pacific port of Vladivostok through Summit Ascension and its department, which is listed in Hong Kong.
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