HONG KONG, Nov. 30, 2011 (GLOBE NEWSWIRE) — Melco Crown Entertainment Limited (“Melco Crown Entertainment” or “the Company”) (SEHK:6883) (Nasdaq:MPEL), a developer, owner and, through its subsidiary, an operator of casino gaming and entertainment resort facilities focused on the Macau market, today announces the dual primary listing of its Shares on the Main Board of The Stock Exchange of Hong Kong Limited (“SEHK”) by way of introduction.
The Company’s Shares are expected to commence trading on the SEHK on Wednesday, December 7, 2011 under the stock code 6883. Shares will be traded in board lots of 300 Shares. Credit Suisse (Hong Kong) Limited and Deutsche Bank AG, Hong Kong Branch (in alphabetical order) are the joint sponsors of the dual primary listing. The Company wishes to highlight that the HK dual listing is subject to the final approval of the SEHK and other relevant authorities, and may not occur in the absence of such approvals.
Mr. Lawrence Ho, Co-Chairman and Chief Executive Officer of Melco Crown Entertainment, said, “We believe our proposed dual listing on the local bourse will not only put us on a par with our competitors, but will also provide our existing shareholders with enhanced liquidity and enable local and Asian investors to directly access investment opportunities in our Company, thus broadening our investor base.”
“We believe a listing by introduction is consistent with the Company’s disciplined and pro-active approach to managing its capital structure, providing the Company with an additional channel, via the SEHK’s mature and liquid platform, to raise future capital. Taking into account, among other factors, the current market sentiment, we do not currently intend to carry out any equity offering in conjunction with the listing by introduction.
“Led by an experienced management team, Melco Crown Entertainment is well-poised to capture the rapidly expanding Macau gaming market with its unique and diversified portfolio of high quality properties targeting multiple customer segments.
“Studio City provides us with another exciting element to our future growth story, complementing our current property portfolio and demonstrating our desire to continue to support and meaningfully contribute to the development and diversification of Macau’s leisure and tourism industry, while continuing to enhance shareholders’ value.
“As evidenced by the recent conversion of shareholder loans into equity, we continue to have the full commitment of our controlling shareholders which demonstrates their confidence in the long term prospects of Melco Crown Entertainment and the Macau market as a whole.”