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Macau Legend Development Ltd Launches Up To HKD786 Million IPO-Reuters


Thursday, 6 Jun 2013 11:33am EDT 

Reuters reported that Macau Legend Development Ltd launched on Friday an up to $786 million initial public offering in Hong Kong. The company and shareholders Lam Fong Ngo and Grand Bright are selling 2.05 billion shares in the offering, of which 86.2% are new shares issued by Macau Legend, and the remainder existing stock from the two shareholders. The shares are being offered in an indicative range of HKD2.30-HKD2.98 each. About two-thirds of the proceeds of the offering will be used to build the Prague Harbor View Hotel and Palace Hotel, according to the term sheet, and the rest set aside for development of entertainment and shopping facilities, a yacht club and renovation of the Landmark Macau, among other things. CLSA and Citic Securities Co Ltd, were hired as joint global coordinators, with Credit Suisse Group AG also acting as a joint bookrunner. 

Company Quote

2.94
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30 Apr 2015