Macau Legend seeks up to $787 million from Hong Kong IPO

The Macau casino operator is raising money to fund the construction of three new hotels with casinos on Fishermans’s Wharf that will come on stream over the next three years.

Macau Legend Development, a hotel and casino operator, has started the management roadshow and institutional bookbuilding for a Hong Kong initial public offering that is seeking to raise between HK$4.71 billion and HK$6.10 billion $607 million to $787 million.  

The deal launched on Friday last week and will remain open until June 20. The trading debut is scheduled for June 27.

The company, which is controlled by business entrepreneur and former Macau legislator David Chow and operates three casinos in Macau under a service agreement with Stanley Ho-controlled SJM Holdings, has signed up one cornerstone investor that has agreed to buy $35 million...

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