Up to us$800 million
Macau Legend plans Hong Kong IPO
(Macau).- Legend Development is planning a Hong Kong initial public offering of us$500-us$800 million, which could come in the second quarter, IFR reported this week.
2013-01-04
Reading time 32 seg
(Macau).- Legend Development is planning a Hong Kong initial public offering of us$500-us$800 million, which could come in the second quarter, IFR reported this week.
The firm owns Macau Fisherman's Wharf, Landmark Macau and Pharaoh's Palace Casino. CLSA is working alone on the deal, IFR said.
Macau, the world's largest casino market, raked in us$38 billion gambling revenue in 2012 after monthly revenues for December hit a record, a signal of sustained strength in the only place in China where visitors are able to gamble legally in casinos.
December's revenue growth of 19.6 %, which came in ahead of a forecast for 16-18 %, was boosted by stronger visitor numbers during the holiday season. The monthly figure of us$3.54 billion was the strongest ever, according to data from Macau released this week.
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