Studio City International Holdings Limited Announces Launch of Initial Public Offering of ADSs
October 09 2018 - 5:49PM
Studio City International Holdings Limited (“
Studio
City”), a cinematically-themed, world-class gaming, retail
and entertainment resort, today announces the launch of an initial
public offering of 28,750,000 American Depositary Shares
(“
ADSs”), each ADS representing four Class A
ordinary shares of Studio City (the
“
Offering”). Studio City has also granted
the underwriters a 30-day option to purchase up to an additional
4,312,500 ADSs. The price range for the Offering is currently
estimated to be between US$10.50 and US$12.50 per ADS. A
registration statement containing a preliminary prospectus, subject
to completion, relating to the Offering has been filed with the
U.S. Securities and Exchange Commission (“
SEC”)
but has not yet become effective. The ADSs may not be sold
nor may offers to buy be accepted prior to the time the
registration statement becomes effective. Studio City expects
to use the net proceeds of the Offering to acquire newly-issued
shares of its subsidiary, MSC Cotai Limited (“
MSC
Cotai”). In turn, MSC Cotai expects to apply the net
proceeds it receives for the repayment of certain existing
indebtedness.
Deutsche Bank Securities Inc., Credit Suisse
Securities (USA) LLC and Morgan Stanley & Co. International plc
are acting as joint bookrunners of this Offering and as the
representatives of the underwriters.
The Offering may be made only by means of a
prospectus. Copies of the preliminary prospectus relating to
the Offering of the ADSs may be obtained, when available, from
Deutsche Bank Securities Inc., Attention: Prospectus Department, 60
Wall Street, New York, NY 10005, via telephone at 1-800-503-4611 or
via e-mail: prospectus.cpdg@db.com; Credit Suisse Securities (USA)
LLC, Credit Suisse Securities (USA) LLC, 11 Madison Avenue, New
York, New York 10010-3629, Attention: Prospectus Department or by
calling 1-800-221-1037, or by email at
newyork.prospectus@credit-suisse.com; or Morgan Stanley & Co.
LLC, 180 Varick Street, 2nd Floor, New York, NY 10014, Attention:
Prospectus Department (telephone: 1-866-718-1649) or by e-mailing
prospectus@morganstanley.com.
This announcement does not, and is not intended
to, constitute an offer to sell or a solicitation of an offer to
purchase any securities in the United States or elsewhere, and it
does not, and is not intended to, constitute an offer, solicitation
or sale of any securities in any state or jurisdiction in which
such an offer, solicitation or sale would be unlawful.
Forward-Looking
Statements
This press release contains forward-looking
statements. Statements that are not historical facts, including
statements about Studio City’s beliefs and expectations, are
forward-looking statements. Forward-looking statements involve
inherent risks and uncertainties, and a number of factors could
cause actual results to differ materially from those contained in
any forward-looking statement. These factors include, but are not
limited to, (i) growth of the gaming market and visitation in
Macau, (ii) capital and credit market volatility,
(iii) local and global economic conditions, (iv) Studio
City’s anticipated growth strategies, (v) gaming authority and
other governmental approvals and regulations and (vi) our
future business development, results of operations and financial
condition. In some cases, forward-looking statements can be
identified by words or phrases such as “may”, “will,” “expect,”
“anticipate,” “target,” “aim,” “estimate,” “intend,” “plan,”
“believe,” “potential,” “continue,” “is/are likely to” or other
similar expressions. Further information regarding these and other
risks, uncertainties or factors is included in Studio City’s or its
affiliates’ filings with the SEC. All information provided in this
press release is as of the date of this press release, and Studio
City does not undertake any duty to update such information, except
as required under applicable law.
For investment community, please
contact:
Richard Huang Director, Investor Relations Tel:
+852 2598 3619 Email: richardlshuang@melco-resorts.com
For media enquiry, please
contact:
Chimmy Leung Executive Director, Corporate
Communications Tel: +852 3151
3765 Email: chimmyleung@melco-resorts.com
Melco Resorts and Entert... (NASDAQ:MLCO)
Historical Stock Chart
From Aug 2024 to Sep 2024
Melco Resorts and Entert... (NASDAQ:MLCO)
Historical Stock Chart
From Sep 2023 to Sep 2024