SJM IPO Sociedade de Jogos de Macau IPO: Finance Trading Times

SJM IPO Sociedade de Jogos de Macau IPO

Sociedade de Jogos de Macau (SJM), which is known to be the largest casino operator in Macau is set to come out with an IPO or initial public offering.
SJM IPO Sociedade de Jogos de Macau SJM IPO
What is the size of the Sociedade de Jogos de Macau SJM IPO?
The is expected to raise money in the range of HK$3.85 billion and HK$5.1 billion ($494 million and $654 million) through the initial public offering.

What is the price band or price range of SJM IPO shares?
The share of SJM are priced in the range of HK$3.08 and HK$4.08 per share.

How many shares will be offered for sale through the SJM IPO?
A total of 1.25 billion shares will be offered for sale through the Sociedade de Jogos de Macau SJM IPO.

What are the business valuations of SJM IPO?
SJM runs 19 of Macau's 29 casinos, and is top in terms of market share and gaming revenue. Across its venues it has 305 VIP gaming tables, 1,100 mass market gaming tables and 3,700 slot machines. Its origins can be traced back to Sociedade de Turismo e Diversoes de Macau (STDM), the former monopoly that is controlled by Macau gaming tycoon Stanley Ho and which dominated gaming in the former Portuguese colony before the liberalisation of the industry in 2002.

How about the competition for SJM IPO?
The SJM IPO has competition from American peers, but it comes as a blessing: the opening of large American casinos has helped to vastly increase the gaming revenue in the area. However, it has come at a cost of eating up the market share of SJM and will continue to be a threat to SJM’s business.

What are the future prospects of SJM IPO business?
As part of this plan to expand, it has been building new properties. In February 2007, its new flagship casino, the Grand Lisboa, opened; and this February the casino at Ponte 16 opened its doors for business.

What about other fundamental indicators like PE ratio for SJM IPO?
SJM shares appear to be cheaper on the price to earnings front. SJM's price range values the company at 10.1 to 13.4 times its predicted 2008 earnings, which is much cheaper than its major competitors. US-listed Las Vegas Sands is currently trading at 82 times 2008 estimates, and MGM and Wynn are trading at 22 times and 29 times respectively.

Deutsche Bank is the soul global coordinator and bookrunner for the offering, while BNP Paribas and CLSA are advising on the deal. Pricing is scheduled for July 3 and the trading debut is planned for July 10. Table of Contents
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