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Melco to Raise Funds for Macau Casino

MACAU – As reported by the (China) Standard: "Casino tycoon Stanley Ho's Melco International Development plans to raise up to HK$400 million (US$51.36 million) through a share placement, a market source said.

"He will use the money to fund a HK$1.5 billion (US$192.6 million)hotel and casino joint venture project in Macau.

"The company will place 75.9 million new shares at HK$5 to HK$5.20 each, raising HK$379.5 million to HK$394.7 million, sources said…"

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