Macau Legend Development eyes Hong Kong IPO this year

The casino operator is seeking to raise as much as $800 million in Hong Kong, which ranked as the fourth biggest market for new listings in 2012.
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Fisherman's Wharf is one of Macau Legend's key assets
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<div style="text-align: left;"> Fisherman's Wharf is one of Macau Legend's key assets </div>

Casino operator Macau Legend Development is planning to raise $500 million to $800 million from an initial public offering in Hong Kong this year, a source said on Friday.

No timetable has been set for the deal at this time and details were not immediately available, but the IPO is expected to take place sometime after the first quarter this year, the source noted.

Macau Legend lacks a gambling licence of its own, but according to media reports it operates casinos at the Landmark Macau hotel, Pharaohs Palace Casino and Macau Fisherman’s Wharf under a service agreement with Stanley Ho-controlled SJM Holdings.

Despite a...

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