Melco Crown Philippines prices follow-on at the top

This allows the company to raise $337 million towards the casino project it is developing together with the SM Group.

Melco Crown Philippines prices follow-on at the top
An artist's rendering of Entertainment City in Manila

Melco Crown Philippines Resorts Corp will raise at least Ps13.74 billion $337 million from its fully marketed top-up placement after fixing the price at Ps 14 per share the top of the indicated range.

If the 12% overallotment option is exercised in full, the deal size could increase to $377 million. The money will be used mostly towards the $1 billion casino project in Manila’s new Entertainment City gaming hub that the Philippine gaming unit...

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