Macau Legend postpones $607 million IPO as markets remain challenging

The hotel and casino operator may return with a reduced offering this week. Meanwhile, SPH Reit and NW Hotel Investments both decide not to go ahead with their roadshows at this time.

Macau Legend postpones $607 million IPO as markets remain challenging
Fisherman's Wharf: Macau Legend needs funding to redevelop the area

Hotel and casino operator Macau Legend Development on Friday postponed its initial public offering of at least HK$4.71 billion $607 million after failing to attract sufficient demand by the time the order books closed at 8am Hong Kong time that morning.

The bookbuilding coincided with a sell-off in global equity markets and poor trading debuts for a number of other market newcomers, which made investors hold off on deciding whether to submit an order...

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