Melco Crown Said to Consider H.K. Listing Without New Share Sale

Melco Crown Entertainment Ltd. (MPEL) is considering listing its shares in Hong Kong without raising any money, after volatile markets curbed demand for new equity, two people with knowledge of the matter said.

The Macau casino operator, which already trades on the Nasdaq Stock Market, may drop a plan to sell at least $300 million new shares in Hong Kong and instead opt to just list its stock in the city, said the people, who declined to be identified because the information is private.

Melco Crown is considering a so-called listing by introduction, which involves the transfer of existing shares from overseas, the people said. The company aims to start trading in Hong Kong in early November, they said.

Melco International Development Ltd. (200), which owns 33.5 percent of Melco Crown, slumped 33 percent in Hong Kong trading in the last four weeks, while Macau rival Sands China Ltd. (1928) lost 18 percent, on concern slowing growth in China and falling stock markets may sap demand for gambling.

Maggie Ma, a spokeswoman for Melco International in Hong Kong, declined to comment on the listing plan for Melco Crown. Credit Suisse Group AG and Deutsche Bank AG are managing the listing for Melco Crown, the people said.

To contact the reporters on this story: Fox Hu in Hong Kong at fhu7@bloomberg.net;

To contact the editor responsible for this story: Philip Lagerkranser at lagerkranser@bloomberg.net