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The Macau Metro Monitor. November 9th, 2009.


SANDS CHINA IPO SAID TO RAISE AS MUCH AS $3.4 BILLION Bloomberg.com

LVS seeks to raise up to US$3.4 billion through an initial public offering of shares in its Macau business, in what could be the world’s fourth largest offering of the year.  The top end of the range is higher than the roughly US$2.5 billion the market had been expecting.  The offering consists of 1.87 billion shares, a 23.4% stake in the company, priced between HK$10.38 and HK13.88 per share.  The sale values Sands China at as much as HK$111 billion, or 16.6x next year’s EBITDA.