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Sands’ Hong Kong IPO Nets $2.5B

(November 2009) posted on Mon Nov 23, 2009 EST

Shares priced a low end of price range


Sands China Ltd. has raised $2.5 billion in a Hong Kong initial public offering, The Wall Street Journal reports. The shares were priced at the low end of its indicative price range on lackluster reception from investors, a person familiar with the situation told the Journal.

The offering by the Macau unit of Las Vegas Sands Corp. is expected to list on the Hong Kong stock exchange on Nov. 30. Sands is the second U.S.-based casino operator in recent weeks to launch an IPO in Hong Kong, with Wynn Resorts netting $1.6 billion for a share offering for its Wynn Macau operations.

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