DJ Sands China To Seek $2.5B In HK IPO, To List Nov 30-Source
HONG KONG (Dow Jones)--Sands China Ltd., the Macau unit of Las Vegas Sands Corp. (LVS), started pre-marketing its US$2.5 billion Hong Kong initial public offering Monday and is slated to list on Nov. 30, a person familiar with the situation said Monday.
The company will start its roadshow on Nov. 9, with pricing expected on Nov. 19, the person said.
Proceeds from the IPO will be used to repay a shareholder loan that it took out recently, repay a credit facility from banks and finance the completion of parcels five and six of its development in Macau's Cotai Strip, he said.
Citigroup Inc. (C) Goldman Sachs Group Inc. (GS) and UBS AG (UBS) have been appointed as global coordinators of the IPO, with Barclays PLC (BCS) as a bookrunner, people familiar with the situation said earlier.
Source: Amy Or, Dow Jones Newswires