Las Vegas Sands Launches Macao IPO

Sands China, the Macau casino operations owned by Las Vegas Sands (LVS), yesterday kicked off the roadshow for its Hong Kong initial public offering with the aim of raising between HK$19.41 billion and HK$25.96 billion ($2.5 billion to $3.4 billion).

The launch came on the same day that China Minsheng Banking Corp kicked off an IPO of at least $3.6 billion, which looks set to become the largest Hong Kong listing so far this year. A couple of smaller companies that seek to raise a combined $700 million also started bookbuilding yesterday, namely Fantasia Holdings Group, a property developer which is hoping to raise up to $413 million (see separate story on our website today), and Sany Heavy Equipment, which revealed plans for a $310 million IPO.