MGM China sets IPO price range at discount to Macau rivals

MGM China kicks off its institutional bookbuilding with the aim of raising up to $1.5 billion. At the same time, greenfield mining company Resourcehouse launches its IPO of up to $3.6 billion.

MGM China sets IPO price range at discount to Macau rivals

Macau casino operator MGM China yesterday kicked off the institutional marketing for its Hong Kong initial public offering, with the aim of raising between HK$9.4 billion and HK$11.7 billion $1.2 billion to $1.5 billion.

The shares are being offered at a discount to the other Hong Kong-listed Macau casino operators, in the hope that MGM China will be able to lure investors to the deal at a time when its key comps,...

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