Macau Legend plans up to $800 million Hong Kong IPO: IFR
HONG KONG (Reuters) - Casino operator Macau Legend Development Ltd is planning a Hong Kong initial public offering of $500-$800 million which could come in the second quarter, IFR reported on Thursday.
The firm owns Macau Fisherman's Wharf, Landmark Macau and Pharaoh's Palace Casino.
CLSA is working alone on the deal, IFR said.
Macau, the world's largest casino market, raked in $38 billion gambling revenue in 2012 after monthly revenues for December hit a record, a signal of sustained strength in the only place in China where visitors are able to gamble legally in casinos.
December's revenue growth of 19.6 percent, which came in ahead of a forecast for 16-18 percent, was boosted by stronger visitor numbers during the holiday season. The monthly figure of 28.25 billion patacas ($3.54 billion) was the strongest ever, according to data from Macau released on Wednesday.
(Reporting by Stephen Aldred; Editing by Dan Lalor)
WASHINGTON - The U.S. economy grew faster than initially estimated in the third quarter but weak demand and a pile-up in business inventories buoyed the case for the Federal Reserve to keep up its bond-buying stimulus for now.
BEIJING/HONG KONG - China reiterated its opposition on Thursday to a European Union plan to limit airline carbon dioxide emissions and called for talks to resolve the issue a day after its major airlines refused to pay any carbon costs under the new law.