Waddell & Reed to Raise up to US$258 Million Selling Sands China, Wynn Macau Shares - Term Sheet
June 14 2012 - 7:07AM
Dow Jones News
By Prudence Ho
HONG KONG--U.S. asset manager Waddell & Reed Financial Inc.
(WDR) is seeking to raise up to US$258 million by selling shares in
Sands China Ltd. (1928.HK) and Wynn Macau Ltd. (1128.HK), according
to a term sheet seen by Dow Jones Newswires on Thursday.
Waddell & Reed is selling 41 million Sands China shares at
an indicative price range of HK$24.18-HK$24.68 each, the term sheet
said, representing a discount of 3%-5% to the shares' closing price
Thursday of HK$25.45.
The U.S. asset manager is also selling 55.5 million Wynn Macau
shares at an indicative price range of HK$17.53-HK$17.90 each, the
term sheet said, representing a discount of 3%-5% to the shares'
closing price Thursday of HK$18.46.
UBS is the bookrunner for the placements, the term sheet
said.
Write to Prudence Ho at prudence.ho@dowjones.com
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