Sands China may list in Hong Kong

Sands China, the Macau unit of US casino giant Las Vegas Sands, could raise as much as US$3.4 billion in an initial public offering in Hong Kong, Bloomberg reported, citing three people close to the deal. The offering consists of 1.87 billion shares priced at between HK$10.38 (US$1.34) and HK$13.88 (US$1.79) each. The listing comes as casino revenue in Macau, the world’s current number one gambling hub, looks to hit record levels this year on the back of record lending and economic recovery in China. Macau’s casino revenues for the third quarter were up 22% year-on-year. Sands China would join fellow US-owned casino Wynn Macau in selling shares in Hong Kong were it to list on the exchange.