The move aimed to increase competitiveness, boost liquidity to shareholders, while providing the company with access to an additional source of capital.
Melco Crown Entertainment Limited, a developer and owner of casino gaming and entertainment resort facilities focusing on the Macau market, announces that it has made an application to The Stock Exchange of Hong Kong Limited (the “SEHK”) for a proposed dual listing of its shares on the Main Board of the SEHK (the “Proposed HK Dual Listing”) and is evaluating a possible global offering of SEHK-listed shares (the “Offer Shares”) to local and international investors.
The Company wishes to highlight that the Proposed HK Dual Listing involves extensive preparatory work and is subject to, among others, the approval of the SEHK and other relevant authorities, the final decision of the Company’s board of directors and approval of its shareholders and market conditions. It is therefore difficult to provide a clear time frame on the Proposed HK Dual Listing, and the Proposed HK Dual Listing may or may not occur, according to a Melco Crown report.
Mr. Lawrence Ho, Co-Chairman and Chief Executive Officer of the Company stated, "It is worth noting that today all other casino operators in Macau, including those from the US, have their Macau operations listed on the SEHK. We believe our proposed dual listing on the local bourse will not only put us on a par with our competitors, but will also provide our existing shareholders with much enhanced liquidity, while providing us with access to an additional source of capital. A dual listing on the SEHK will also allow local and Asian investors to directly access investment opportunities in our Company, thus broadening our investor universe.”
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