HONG KONG: Las Vegas casino company Wynn Resorts priced its Asian IPO at the top of its indicated range, a sign that demand is still strong for certain offerings despite a glut of stock deals in and around Hong Kong.
Wynn Macau sold 1.5 billion Hong Kong-listed shares at HK$10.08 each to raise US$1.63bil, according to sources, who had direct knowledge of the deal but were not authorised to speak publicly about it.
The IPO’s range was HK$8.52-HK$10.08, with Wynn selling 25% of the business to the public – up from earlier plans to sell 20%. — Reuters
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