Ho eyes US$1.5b in casino IPO
Source: Bloomberg News |
May 18, 2011, Wednesday
|
Print Edition
Print Edition
Pansy Ho, a daughter of billionaire Stanley Ho, is seeking as much as HK$11.7 billion (US$1.5 billion) from an initial public offering of casino operator MGM China Holdings Ltd, according to a term sheet for the sale.
Pansy Ho will offer 760 million shares at HK$12.36 to HK$15.34 apiece, the terms show. MGM China is a 50-50 joint venture between her and MGM Resorts International. Pansy Ho, 48, is chairwoman and executive director of MGM China, according to a filing to the Hong Kong stock exchange on May 9.
The casino operator is starting the sale after gambling revenue in Macau rose 58 percent last year to 188.3 billion patacas (US$23.5 billion), about four times that of the Las Vegas Strip. MGM China received orders covering all the stock offered to institutional investors on the first day of marketing the IPO, two people with knowledge of the matter said.
Stanley Ho, 89, held a gambling monopoly in Macau for four decades before the entry of foreign casino operators starting from 2002.
Pansy Ho will sell a 20 percent stake in MGM China to the public and another 1 percent stake to MGM Resorts, leaving her with 29 percent, the Las Vegas-based company said in a statement on April 13.
Pansy Ho will offer 760 million shares at HK$12.36 to HK$15.34 apiece, the terms show. MGM China is a 50-50 joint venture between her and MGM Resorts International. Pansy Ho, 48, is chairwoman and executive director of MGM China, according to a filing to the Hong Kong stock exchange on May 9.
The casino operator is starting the sale after gambling revenue in Macau rose 58 percent last year to 188.3 billion patacas (US$23.5 billion), about four times that of the Las Vegas Strip. MGM China received orders covering all the stock offered to institutional investors on the first day of marketing the IPO, two people with knowledge of the matter said.
Stanley Ho, 89, held a gambling monopoly in Macau for four decades before the entry of foreign casino operators starting from 2002.
Pansy Ho will sell a 20 percent stake in MGM China to the public and another 1 percent stake to MGM Resorts, leaving her with 29 percent, the Las Vegas-based company said in a statement on April 13.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 娌狪CP璇侊細娌狪CP澶05050403鍙-1
- |
- 浜掕仈缃戞柊闂讳俊鎭湇鍔¤鍙瘉锛31120180004
- |
- 缃戠粶瑙嗗惉璁稿彲璇侊細0909346
- |
- 骞挎挱鐢佃鑺傜洰鍒朵綔璁稿彲璇侊細娌瓧绗354鍙
- |
- 澧炲肩數淇′笟鍔＄粡钀ヨ鍙瘉锛氭勃B2-20120012
Copyright 漏 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
