Hong Kong buzz for Wynn Resorts, Las Vegas Sands

Sep 15, 2009 5:09 PM
Industry Insider by Ray Poirier |

Word spread throughout the Hong Kong financial district last week that Wynn Resorts Inc. (WYNN) was only a couple of weeks away from a listing on the Hong Kong Stock Exchange.

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Sources indicated that about 20 percent of a new unit, called Wynn Macau Ltd., would be made part of an initial public option that would seek $1 billion in proceeds. Share pricing was scheduled to be on Oct. 2 with listing expected on Oct. 9.

Regulators at the exchange reportedly approved the Wynn application last week. Earlier, Wynn Macau was valued at $1.2 billion with WYNN owning 100 percent of the company.

Also expected to seek a Hong Kong exchange listing is Las Vegas Sands Corp. (LVS). This IPO also is expected to generate between $1 billion and $2 billion when it is filed.

Question? Comment? E-mail me at: Ray Poirier