Studio City has developed terms of IPO
Studio City International Holdings which managing Studio City in Macau, has published the terms of an initial public offering (IPO).
According to Melco International Development’s majority shareholder, the Hong Kong-based company plans to offer 28.8 million ADS tokens for prices ranging from $ 10.5 to $ 12.5.
Based on the price range, Melco expects the offer to generate gross revenues in the amount of $301.9 million to $359.4 million.
Representatives of Melco announced their intention to use the net proceeds from the offer to purchase the issued shares of their subsidiary MSC Cotai Limited. In turn, MSC Cotai plans to send cash to pay off existing debt.
Deutsche Bank Securities Inc., Credit Suisse Securities (USA) LLC and Morgan Stanley & Co. International plc act as bookrunners of this proposal and representatives of underwriters.
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