THE MACAU METRO MONITOR, JUNE 10, 2013
MACAU LEGEND'S IPO AIMS TO RAISE UP TO US$786 MILLION Macau Business
Macau Legend Development Ltd is looking to raise up to US$786 million (MOP6.3 billion) in its upcoming HK IPO. Previous reports said the company was looking to secure US$600 million from the operation. The company and shareholders Lam Fong Ngo and Grand Bright are selling 2.05 billion shares in the offering, of which 86.2% are new shares issued by Macau Legend, and the remainder existing stock from the two shareholders.
Macau Legend is offering the shares in an indicative range of HK$2.30 (US$0.3) to HK$2.98 each. The listing is scheduled for June 27. The proceeds will go to financing the redevelopment of the Macau Fisherman’s Wharf theme park.