Las Vega Gate Valve Manufacturer s Sands to raise US$3.83 bln from HK IPO: report

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Las Vega Gate Valve Manufacturer s Sands to raise US$3.83 bln from HK IPO: report
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Las Vegas Sands to raise US$3.83 bln from HK IPO: reportPublished: 08 Nov 2009 21:23:16 PST

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Nov. 9, 2009 (China Knowledge) – Sands China Ltd, the Macau unit of Casino operator Las Vegas Sands Corp, is expected to raise up to US$3.83 billion through an initial public offering in Hong Kong and is set to list on the Hong Kong Stock Exchange on Nov. 30, the Wall Street Journal reported, citing unnamed sources.

The Casino operator plans to sell 1.87 billion shares priced at the range between HK$10.38 to HK$13.88 to raise up to US$3.33 billion, the source said, adding the company also has an option to increase the deal size by 15% to raise US$3.83 billion in total.

The firm plans to use the proceeds to repay its debt and restart a casino-resort project on the Chinese enclave.

Citigroup Inc, UBS AG, Barclays PLC and Goldman Sachs Group Inc are reportedly hired to handle the IPO, which is expected to be the second largest IPO in Hong Kong after China Minsheng Bank<600016>.



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