THE M3: SANDS CHINA SHARE SALE; MGM CHINA GREENSHOE; RWS AIR-CON PROBLEMS; S'PORE BANK LENDING

The Macau Metro Monitor, May 31, 2011

 


SHAREHOLDER SELLING HK$2.34BN SANDS CHINA SHARES IFR Asia

An institutional shareholder is selling 120MM shares in Sands China to raise HK$2.34bn (US$301m). The shares are being offered at a fixed price of HK$19.50, a 3.2% discount to last night's close. Credit Suisse is the sole bookrunner.


MGM CHINA IPO SHARES BEING SNAPPED UP BY INVESTORS Gaming Today

Because of the strong IPO response, the greenshoe may get exercised leading Pansy Ho to sell an additional 3% of her shares to investors, reducing her stake to 26% and raising nearly $1.8BN.

 

RWS FEELS THE HEAT AS AIR-CON FAILS Strait Times, AsiaOne News, Channel News Asia

Due to an central air-conditioner malfunction, RWS closed two shows and its casino, four hotels, and at least 10 restaurants were affected yesterday.  Universal Studios Singapore also had to close much earlier than its extended opening hours during the June holiday period.  Currently, portable AC units are being used.  However, a RWS spokesman said the impact on resort operations is minimal.  RWS said it expects its air conditioning system to be fully restored by Friday.

 

SINGAPORE BANK LENDING GREW 21.9% IN APRIL ON-YEAR Channel News Asia

Singapore bank lending grew by 21.9% YoY to S$351BN in April. Housing loans continued its ascent, expanding 22.2% YoY in April (vs. 18.4% YoY growth in March).


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6 Charts: The French Election, Nasdaq All-Time Highs & An Earnings Scorecard

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Europe's Battles Against Apple, Google, Innovation & Jobs

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