Hong Kong
Capital Markets, Corporate Finance and M&A, Hong Kong, Macau - Friday, August 1, 2008 23:28 - 0 Comments
Ho gets SJM to the table
Euromoney magazine, August 2008
It’s tough to imagine a worse environment for an IPO than the one that faced Sociedade de Jogos de Macau, the casino business owned by Asia’s most legendary gambling tycoon Stanley Ho, when it listed on July 16.
There’s the hellish global market conditions, for a start: the Dow hit its lowest level for two years the night before SJM started trading in Hong Kong, and the Hang Seng has been hovering around similar lows. Very few issuers have braved these markets with an IPO and those who have attempted it have looked either brazen or desperate, and usually both. Continue…
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