Sands Seeks $3.35B in Macau IPO

HONG KONG (TheStreet) -- The Macau unit of Las Vegas Sands(LVS Quote), Sands China, plans to raise HK$26 billion ($3.35 billion) in an initial public offering of stock, reports say.

The offering consists of 1.87 billion shares, or 23.4%, priced at between HK$10.38 and HK$13.88 each, Bloomberg reports, citing people familiar with the matter. The sale values Sands China at as much as HK$111 billion.

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 could be Hong Kong's second biggest this year, according to Bloomberg.

If Las Vegas Sands' IPO is successful it would join Wynn Resorts (WYNN Quote), which debuted its Macau assets in October.

Las Vegas Sands received approval for the Hong Kong initial public offering of its Macau assets in late October, according to reports.

-- Reported by Joseph Woelfel in New York .

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