Sociedade de Jogos de Macau (SJM), founded by casino tycoon Stanley Ho, plans to issue 1.25 billion new shares, hoping to raise $1 billion in an IPO at the end of this month.
Among the new shares, 85 percent will be sold to institutional investors, and 5 percent will be reserved for employees, leaving 10 percent available to the general public.
SJM held the monopoly on casinos in Macau for 40 years until 2002 when the government opened up licensing to foreign operators. SJM still runs the majority of casinos in the jurisdiction, owning 17 of the 28 properties on the island.
Deutsche Bank has reportedly been selected to manager the global offering to institutional investors, which will take place on Jan. 15, the public offering on Jan. 21 and the debut of trading scheduled for Feb. 1, according to the South China Morning Post.
SJM said in December that it would be launching an international tender for the construction of a new hotel and casino in the plot of the 38-year-old Hotel Lisboa, Ho's flagship casino. SJM is aiming for work to begin in 2009 and end in 2012.