Melco International Plans Spin-Off, Separate Listing of Studio City International Holdings in U.S.
August 14 2017 - 8:33PM
Dow Jones News
By Joanne Chiu
Melco International Development Ltd. (0200.HK) is seeking a
spin-off and separate listing of a unit in Macau.
The Macau gaming investor said after markets closed Monday that
it plans to spin-off and list the shares of Studio City
International Holdings Ltd. on the U.S.'s Nasdaq Global Market or
the New York Stock Exchange.
Studio City, which operates an integrated entertainment, retail
and gaming resort in Cotai, Macau, is a unit controlled by the Hong
Kong-listed company's 51.2%-owned Melco Resorts & Entertainment
Ltd.
The initial public offering of Studio City is expected to
commence as market conditions permit, and is subject to Studio
City's filing with the U.S. securities regulator, it said, without
giving any financial details of the proposed IPO. The Hong
Kong-listed company will remain as Studio City's majority
shareholder after the IPO.
Write to Joanne Chiu at joanne.chiu@wsj.com
(END) Dow Jones Newswires
August 14, 2017 20:18 ET (00:18 GMT)
Copyright (c) 2017 Dow Jones & Company, Inc.
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