Las Vegas Sands Makes Hong Kong Move To Improve Liquidity
Las Vegas Sands Corp (NYSE: LVS), which has proven itself to be one of the most resilient stocks going is up on news about a listing on the Hong Kong Stock Exchange.
LVS has had to come up with a financing plan for its giant Macau casino, which needs $2 billion more to be completed. A recent series of moves may have assured that happening.
Last week LVS announced that it had come to terms with lenders concerning its $3.3 billion credit facility for its Macau operation.
Now a move to have an IPO for the property on the Hong Kong Stock Exchange could allay fears that the project would run out of money prior to completion. It's widely expected that the IPO could raise between $1 and $2 billion, which should be enough to get the giant casino off the ground.
Shares of LVS are up 4.33% in current trading.
Copyright 2007-2009 by Times of the Internet. All Rights Reserved.
