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Casino firm Melco Crown raises $200 million

SYDNEY, Australia -- As reported by Reuters: "Macau casino operator Melco Crown Entertainment has raised $200 million in equity to pursue development opportunities and strengthen its balance sheet, major shareholder Crown Ltd said on Friday.

"Crown released a copy of a statement by Melco that said the U.S.-listed firm had placed American Depositary Shares at $5.15, with each ADS representing three ordinary shares of Melco.

"Crown said its stake in Melco would be diluted from 36.4 percent to 33.5 percent, assuming full exercise of the over-allotment option..."

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