Wynn Resorts has revealed the price of shares in its new Macau-based subsidiary.
The company announced this week that Wynn Macau Ltd, a newly formed and indirect wholly owned subsidiary of Wynn Resorts, and a developer, owner and operator of gaming and entertainment facilities in Macau, has determined the price for its proposed offering of 1,250,000,000 ordinary shares.
The offering price is HK$10.08 (US1.30) per share, representing proceeds of approximately US$1.6bn and 25 per cent of the post-issuance capital base of Wynn Macau. The offering is expected to close on or about October 9, 2009, subject to the satisfaction of customary closing conditions.
