Sands China Raises $2.5 Billion in IPO

HONG KONG (TheStreet) -- Sands China, the Macau unit of Las Vegas Sands(LVS Quote), sold 1.87 billion shares at HK$10.38 each ($1.34) in an initial public offering for a total of about $2.5 billion, according to a report.

The IPO was priced at the low end of the indicative price range of HK$10.38 to HK$13.88, said a person familiar with the situation, Dow Jones Newswires reports. Sands China will list on the Hong Kong stock exchange on Nov. 30.

The response to the IPO was called "lukewarm" by one person close to the matter. But the IPO was the seventh-largest IPO globally this year, Dow Jones reports.

Sands China also is seeking another $1.75 billion in bank financing.

The stock sale will help the gaming company restart construction on a 13.3 million square foot resort in Macau, the world's biggest gaming hub.

The IPO of Sands China joins Wynn Resorts (WYNN Quote), which debuted its Macau assets in October.

-- Reported by Joseph Woelfel in New York .

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