MGM China's initial public offering is expected to be cut to us $ 802 million, from its original target of raising about HK$7.8 billion, because of uncertain market conditions, the newspaper said, citing market sources.
MGM China kicks off its marketing campaign this week after it passed through a listing hearing in Hong Kong, with the IPO expected to begin on May 23 and a trading debut in early June, the newspaper said. It gave no further listing details.
MGM Resorts International announced in April a plan for the initial public offering of its Macau casino joint venture in which the company would be the majority owner.