Investors gamble on Macau Success

Injection of casino project spurs new placement.

Deutsche Bank completed a HK$405.8 million $52 million placement in Macau Success yesterday November 11. The 317 million new share deal was priced at HK$1.28, representing a 9.8% discount to the stock's HK$1.42 close on Wednesday after which it was suspended. The deal had initially been marketed at a 7% to 18% discount.

Macau Success was suspended for all of last week and re-opened trading this Tuesday, jumping from HK$0.95 to HK$1.50 in the space of a day. The huge jump was prompted by news that the group had increased and injected its stake in a Macau joint-venture.

Macau Success purchased...

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