Tin tức về nhà cung cấp
China – Troubled markets see Macau Legend half IPO value
By Phil - 27 tháng 2013 năm XNUMX
Macau casino operator Macau Legend Development has now relaunched its Hong Kong initial public offering, at almost half of the value presented in the first IPO due to a lower than expected demand caused by unpredictable markets.
The operator, which owns the Macau Fisherman’s Wharf development, is now hoping to obtain up to $360m by selling 934.83m new shares pitching the IPO at up to HK$2.79bn compared to the original HK$6.1bn.
The company, which owns Macau Fisherman’s Wharf, Landmark Macau and Pharaoh’s Palace Casino and is controlled by David Chow Kam Fai, is planning to take investor orders from June 7 with listing scheduled for June 27.
The casino also boasts a boutique hotel, a convention centre and an exhibition hall. Stanley Ho’s SJM Holdings stands to benefit having invested US$62m in a four per cent stake in Macau Legend back in August.
Macau Legend will use the raised money to renovate the 133,038 sq. m. Macau Fisherman’s Wharf complex adding a museum, yacht club and two hotels to the development. It will be completed by the end of 2015.
