Wynn Macau IPO price at top range

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

Latest business news from AP-Wire

Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 1
Cxense type: free
User access status: 3

Did you find this article insightful?


Next In Business News

Oil holds near 3-month highs as vaccines stoke demand recovery hopes
Top Glove, Petronas Dagangan weigh on KLCI
Ringgit retreats to open lower against US dollar
Revoking cabotage exemption doesn't prevent employment of foreign vessels, says Masa
Ex-Goldman banker says he warned bosses about Jho Low, 1MDB
Quick take: Oil and gas counters boosted by oil price optimism
Top Glove shares slump on closure of plants due to Covid-19
Quick take: Serba Dinamik rises 2% on earnings beat
Sime Plantation to deliver best quarterly in 4Q
Britain's telcos face fines if they use suppliers deemed high-risk, like Huawei

Stories You'll Enjoy