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MGM China to be floated on HK stock market
By Tom Walker
Casino and entertainment operator MGM China is set to be valued at HKD58bn (US$7.4bn, 5.3bn euro, £4.6bn) when it is floated on the Hong Kong stock market this week.
It is believed that 20 per cent of the company will be offered for sale with MGM China's parent group, Las Vegas-based MGM Resorts, keeping a 51 per cent stake in the company. Joint owner Pansy Ho will cut her stake from 50 per cent to 29 per cent.
MGM China operates the MGM Grand Macau, which currently has a 11.4 per cent market share of all gaming in Macau.
Casino and entertainment operator MGM China is set to be valued at HKD58bn (US$7.4bn, 5.3bn euro, £4.6bn) when it is floated on the Hong Kong stock market this week.
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