Sociedade de Jogos de Macau (SJM), partly owned by gaming tycoon Stanley Ho, will start marketing in Hong Kong this week its planned initial public offering of up to 1 billion US dollars worth of shares. SJM plans to offer 1.25 billion new shares, representing about 25 percent of its enlarged share capital.
Deutsche Bank is managing the IPO. And of the shares on offer, 85 percent will be sold to institutional investors, 5 percent to employees and 10 percent to the public.
‘Fund managers said they are interested in the deal as SJM is a dominant player in [the] Macau gaming industry, but they are concerned how the company will deal with potential lawsuits from Winnie Ho, Stanley Ho’s sister.
The company plans to price the IPO before the Lunar New Year, which begins on Feb 7 this year.
