Tweet
TopNews
New Zealand - Jitendra Tiwari
MGM China to Raise $1.5 Million through IPO
May 09, 2011
The International Financing Review on Monday reported that MGM China, a
joint venture in the gambling arena between MGM Resorts International,
founded by Kirk Kerkorian and Pansy Ho, daughter of Billionaire, Stanley Ho
will seek to raise an amount of $1.5 million in the IPO (Initial Public
Offering) i. e. the first sale of stock by a company to the public in Hong
Kong.
MGM China Holdings Ltd. aims at selling 760 million shares in the IPO. In
order to determine the investor interest in the first offering and decide on
a price choice for the deal, MGM China has begun premarketing for the IPO in
Hong Kong. The company plans of initiating a road show on 17th May and
commencing the offering on 23rd May.
It was also found that J. P. Morgan Chase & Co., Bank of America-Merrill
Lynch, Morgan Stanley were appointed to jointly manage MGM China's IPO. The
company aspires to get enlisted on the Hong Kong stock exchange, the Asia's
second largest stock exchange, in terms of market capitalization on 3rd
June.
From: A. Papazian
New Zealand - Jitendra Tiwari
MGM China to Raise $1.5 Million through IPO
May 09, 2011
The International Financing Review on Monday reported that MGM China, a
joint venture in the gambling arena between MGM Resorts International,
founded by Kirk Kerkorian and Pansy Ho, daughter of Billionaire, Stanley Ho
will seek to raise an amount of $1.5 million in the IPO (Initial Public
Offering) i. e. the first sale of stock by a company to the public in Hong
Kong.
MGM China Holdings Ltd. aims at selling 760 million shares in the IPO. In
order to determine the investor interest in the first offering and decide on
a price choice for the deal, MGM China has begun premarketing for the IPO in
Hong Kong. The company plans of initiating a road show on 17th May and
commencing the offering on 23rd May.
It was also found that J. P. Morgan Chase & Co., Bank of America-Merrill
Lynch, Morgan Stanley were appointed to jointly manage MGM China's IPO. The
company aspires to get enlisted on the Hong Kong stock exchange, the Asia's
second largest stock exchange, in terms of market capitalization on 3rd
June.
From: A. Papazian