MGM China IPO

MGM China sets IPO price range at discount to Macau rivals

MGM China kicks off its institutional bookbuilding with the aim of raising up to $1.5 billion. At the same time, greenfield mining company Resourcehouse launches its IPO of up to $3.6 billion.
<div style="text-align: left;"> MGM Macau's "Europe-inspired" <i>grande praça</i> </div>
<div style="text-align: left;"> MGM Macau's "Europe-inspired" <i>grande praça</i> </div>
May 17, 2011

Macau casino operator MGM China yesterday kicked off the institutional marketing for its Hong Kong initial public offering, with the aim of raising between HK$9.4 billion and HK$11.7 billion $1.2 billion to $1.5 billion.

The shares are being offered at a discount to the other Hong Kong-listed Macau casino operators, in the hope that MGM China will be able to lure investors to the deal at a time when its key comps, Wynn Macau and Sands China, have just reported record earnings. There has also been quite a lot of focus on Galaxy Entertainment in the lead up to the opening of its new Macau casino this...

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