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Waddell & Reed to Raise up to US$258 Million Selling Sands China, Wynn Macau Shares - Term Sheet

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

Stock News for Waddell & Reed (WDR)
DateTimeHeadline
06/04/201418:06:50U.S. Stocks Edge Higher
05/28/201404:20:36Waddell & Reed Sells Out of Sands China
05/28/201403:45:37Waddell & Reed Sells Out of Sands China -- Update
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06/14/201207:07:07Waddell & Reed to Raise up to US$258 Million Selling Sands China...
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05/14/201012:41:31Waddell Named As Mystery Trader In May 6 Market Fall -Reuters

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