MGM China’s IPO gamble
HONG KONG (Dow Jones Investment Banker) – MGM China Holdings Ltd. is looking to raise US$1 billion to US$1.5 billion in a Hong Kong IPO, set to price May 27. Gains in market share, as well as a buoyant market for gaming stocks, should support the flotation, provided it’s priced sensibly. That said, the deal has seen its fair share of controversy, and MGM China has to battle larger and more established players in the former Portuguese colony.