MGM China IPO

MGM China raises $1.5 billion ahead of Hong Kong listing

Macau's smallest casino operator prices its offering at the top of the range, while Nobao calls off its second US IPO attempt and Kazakhmys decides not to issue any new shares in its upcoming Hong Kong listing.
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Photo: AFP</div>
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MGM China, which is one of six casino operators in Macau, will raise HK$11.7 billion $1.5 billion from its initial public offering in Hong Kong after fixing the price at the top of the range.

The deal attracted a lot of attention from investors in both the US and Asia following sharp gains in Macau gaming revenues during the first four months of this year, while a rally in several of its local casino peers meant MGM China’s valuation got less demanding in the run up to pricing.

When the deal closed on Thursday last week, more than 500 institutional investors had submitted orders and Hong...

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