Entertainment-complex franchiser and money-lender Star East Holdings is close to finalising a $420 million share placement to institutional investors, according to sources. The company said it would place 200 million new shares with institutional investors at $2.10 each. The price would represent a discount of 9.6 per cent to the counter's closing price of $2.325 on Thursday. Its trading was suspended yesterday. Trading in travel agency and tours operator Ananda Wing On Travel has also been suspended, pending an announcement on a possible issue of shares to an investor. Sources said Ananda was in talks with Star East on co-operation on e-commerce related to the travel business.