MGM China isseeking to raise $1 billion through a listing in Hong Kong, The Wall Street Journal reports. The venture between MGM Resorts International and casino mogul, Stanley Ho’s daughter plans to sell 760 million new shares in a primary offering, adds Reuters.
MGM China intends to use the proceeds to repay obligations owed to Grand Paradise Macau. Bank of America Merrill Lynch, JPMorgan and Morgan Stanley will serve as joint global coordinators for the offering.
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