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.
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Fisherman's Wharf: Macau Legend needs funding to redevelop the area
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<div style="text-align: left;"> Fisherman's Wharf: Macau Legend needs funding to redevelop the area </div>

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 or not. And when the Hong Kong market fell 3.9% in the final two days and the Dow Jones Index dropped 3.6% on Wednesday and Thursday after Ben Bernanke said the Federal Reserve may start...

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