Casino operator Macau Legend launches up to US$786m for HK IPO

Casino operator Macau Legend Development launched on Friday an up to US$786 million initial public offering in Hong Kong, according to a term sheet of the deal seen by Reuters.

The company and shareholders Lam Fong Ngo and Grand Bright are selling 2.05 billion shares in the offering, of which 86.2 per cent 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 HK$2.30-HK$2.98 each.

via Business feed http://www.scmp.com/business/companies/article/1255592/casino-operator-macau-legend-launches-us786m-hk-ipo