Key Developments For Melco Crown Entertainment Limited
Melco Crown Entertainment Limited (MPEL.O) (Nasdaq)
Melco PBL Entertainment (Macau) Limited Raises $200 Million-Reuters
Reuters reported that Melco PBL Entertainment (Macau) Limited's major shareholder Crown Ltd said that the Company has raised $200 million in equity to pursue development opportunities and strengthen its balance sheet. Crown released a copy of a statement by the Company that said the Company had placed American Depositary Shares at $5.15, with each ADS representing three ordinary shares of the Company.
Melco PBL Entertainment (Macau) Limited Announces Full Exercise Of Underwriters' Over-Allotment Option
Melco PBL Entertainment (Macau) Limited announced that the underwriters of its previously announced follow-on public offering have exercised in full the underwriters' over-allotment option to purchase an additional 3,750,000 ADSs from Melco Crown Entertainment. The public offering price of the ADSs was $4.00 per ADS. As a consequence of the full exercise of the underwriters' over-allotment option, the total proceeds raised by Melco Crown Entertainment from this follow-on public offering, after deduction of underwriting discounts and commissions, but before other offering expenses, has increased to $175.3 million. The transaction was completed on May 1, 2009.
Crown Limited Participates Melco Crown Entertainment Ltd.'s Capital Raising
Crown Limited announced that it has agreed to subscribe US$45 million at US$4.00 per ADS for additional equity in Melco Crown Entertainment Ltd. as part of Melco Crown’s US$165 million equity placement (US$180 million if the over allotment option is exercised) (MPEL Placement).
Melco PBL Entertainment (Macau) Limited Announces Pricing Of Follow-On Public Offering
Melco PBL Entertainment (Macau) Limited announced that it has priced its previously announced follow-on public offering at USD4.00 per ADS following market close on April 27, 2009 (representing a price of approximately US$1.33 per ordinary share). The offering comprised a public offering of 18,750,000 ADSs (representing 56,250,000 ordinary shares), and an additional 67,500,000 ordinary shares. Each ADS represents three ordinary shares of Melco Crown Entertainment. The underwriters have an option to purchase up to an additional 3,750,000 ADSs (representing 11,250,000 ordinary shares) from Melco Crown Entertainment to cover over-allotments at the follow-on public offering price of USD4.00 per ADS less the underwriting discounts and commissions covering such over-allotments of ADSs.
Melco PBL Entertainment (Macau) Limited Announces Follow-on Public Offering
Melco PBL Entertainment (Macau) Limited announced that it is commencing a public offering of 15,000,000 ADSs (representing 45,000,000 ordinary shares) and an additional 56,250,000 ordinary shares. Each ADS represents three ordinary shares of the Company. In connection with the offering, the Company has granted an option to purchase up to an additional 3,750,000 ADSs (representing 11,250,000 ordinary shares) to the underwriters of the offering for the purpose of covering over-allotments. Deutsche Bank Securities Inc. is acting as sole bookrunner for the offering.
