Stanley Ho a winner IPO goes ahead
Written on August 2, 2006 by admin
Comment - This result was long expected, as long as the Stanley and Winnie saga continues Stanley will keeps on winning as his influence in Macau is huge!
Casino magnate Stanley Ho Hung- sun’s Macau gaming flagship, Sociedade de Jogos de Macau, announced Tuesday it had cleared a hurdle on its way to a listing in Hong Kong, with the rejection by a Macau court of an appeal lodged by Ho’s estranged sister.
The company said it was told officially on Monday that the listing could proceed.
The initial public offering, intended to raise HK$15 billion, was first scheduled as early as April.
Ho’s sister, Winnie Ho Yuen-ki, who holds a 7.3 percent stake in the parent company, Sociedade de Turismo e Diversoes de Macau, appealed to the Macau court seeking an injunction after the lawsuit she filed to the court affirmed the legitimacy of resolutions passed at a shareholders’ meeting of STDM in March, which approved the listing of Sociedade de Jogos in Hong Kong.
Technorati Tags: macau, Macau Gaming, Stanley Ho, Winnie Ho
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