Shares of Star Entertainment (ASX:SGR) dropped as much as 19.7% to a record low of A$0.603.

The casino operator’s stock resumed trading after announcing plans to raise A$750 million as part of a major capital restructure.

The company also plans to increase equity at 60 Australian cents per share.

Currently, Star Entertainment is the biggest loser in the benchmark ASX 200 index.

The stock’s Relative Strength Index (RSI) is trading close to the 17-mark, which suggests that the stock may be oversold.

A RSI score of above 70 indicates the stock is overbought, while one below 30 suggests it is oversold.

Approximately 16.5 million shares have changed hands, compared to the 30-day average of 7.6 million shares.

The stock has seen a 54% decrease this year, as of the last close.

Star Entertainment is a leading casino operator.