Mr. Baja added that a total of 1,098,258,700 Melco Crown (Philippines) shares were sold in the transaction, which already includes 117.075 million shares sold as part of the deal’s overallotment option.
“The successful deal exemplifies the strong prospects of the Philippine gaming industry, and Melco Crown (Philippines) experience to deliver as an operator,” Mr. Baja noted.
Aside from UBS AG, Citigroup Global Markets, Inc., also served as bookrunner for the share sale.
As a result of the share pricing that took place early Tuesday, trading of Melco Crown (Philippines) shares was suspended from 9 a.m. to 12 noon, resuming only at 1:30 p.m. as requested by the company.
“The corporation believes that the suspension of trading is both necessary and prudent until the price for the common shares of the corporation that are being offered under the transaction has been set and disclosed to the exchange in a separate disclosure,” Melco Crown (Philippines) said in a disclosure on Wednesday.
Last month, Melco Crown (Philippines) said it expected to begin this month a planned share placement and subscription transaction of up to one billion shares to raise capital for the company’s operations.
Melco Crown (Philippines) affiliates MCE Holdings (Philippines) Corp., MCE Holdings No. 2 (Philippines) Corp., and MCE Leisure (Philippines) Corp. had signed last month an agreement with Sy-controlled casino developer Belle Corp. under which MCE Leisure will operate Belle’s $1-billion Belle Grande Manila Bay resort-casino complex along Diosdado Macapagal Avenue in the Bagong Nayong Pilipino Entertainment City.
Belle Grande, which will rise on a 6.2-hectare site in the state-run Entertainment City, is scheduled to be completed in mid-2014. Upon completion, the complex will have mass market and VIP gaming facilities, restaurants, entertainment attractions, upscale boutique hotel facilities, a family entertainment center and a night club. - See more at: http://www.bworldonline.com/content.php?section=Corporate&title=Melco-Crown-Philippines-raises-$377-M-from-share-sale&id=69163#sthash.EzXFMhoF.dpuf
