학술논문
Stanley Ho lowers the ante to draw investors to SJM's Hong Kong IPO.
Document Type
Article
Author
Source
Subject
*Floating rate notes
*Going public (Securities)
*
Language
ISSN
0952-7036
Abstract
The article reports that Stanley Ho has launched the Hong Kong flotation of his Macau casino flagship, Sociedade de Jogos de Macau Holdings, braving the volatile equity market and vacillating investor sentiment towards initial public offerings (IPOs). The offer is smaller than expected and at a lower valuation than Ho might have expected a year ago, reflecting the current conditions. The base offer will raise up to HK$5.224 billion (bn) through the sale of 1.25bn new shares, 25% of the enlarged capital, at HK$3.08 to HK$4.08.