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MGM China Sets Price Range for $1.5 Billion Hong Kong IPO

Pansy Ho, a daughter of billionaire Stanley Ho, is seeking as much as HK$11.7 billion ($1.5 billion) from an initial public offering of casino operator MGM China Holdings Ltd., according to a term sheet for the sale.

Pansy Ho will offer 760 million shares at HK$12.36 to HK$15.34 apiece, the terms show. MGM China is a 50-50 joint venture between her and MGM Resorts International. Pansy Ho, 48, is chairwoman and executive director of MGM China, according to a filing to the Hong Kong stock exchange on May 9.