US casino operator Las Vegas Sands said it intends to increase its stake in its Macau subsidiary Sands China Ltd by about 1.19%. The parent company currently holds 70% of the share capital of Sands China, which is registered in Hong Kong.
According to Tuesday’s documents, the purchase will cost the U.S. operator about HK$1.95 billion (23.2 billion rubles). At the time, the price per share was 20.2 dollars (over 240 rubles). This means that the number of shares planned for purchase exceeds 96.6 million dollars. The deal will be executed by Venetian Venture, the direct counterparty to the transactionthe confidence and commitment of the leadership. This is necessary to stabilize the recent bearish investment sentiment.
JP Morgan also noted that the scale of the investment was negligible compared to the company’s float. The planned amount of approximately US$250 million is equivalent to the trading value of Sands China in 6.5 days, the brokerage firm said.
In mid-October, during its third-quarter earnings report, Las Vegas Sands announced a