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Hogan Lovells Advises on the US$283.5 Million IPO of Macau Legend Development

05 July 2013

HONG KONG, 5 July 2013 - Hogan Lovells has advised the underwriters, which include CLSA Limited, CITIC Securities Corporate Finance (HK) Limited, Credit Suisse (Hong Kong) Limited, BOCOM International Securities Limited and CIMB Securities Limited, on the Hong Kong IPO and Rule 144A placing of Macau Legend Development Limited ("Macau Legend"), one of the leading owners of entertainment and casino gaming facilities in Macau.

The IPO was priced at HK$2.35 per share, raising US$283.5 million.

Macau Legend owns two major properties, namely The Landmark Macau, which is an integrated hotel, casino and luxury shopping complex, and Macau Fisherman's Wharf, an integrated gaming, hotel convention and entertainment complex. The company also provides marketing, customer development and other gaming services to SJM Holdings Limited ("SJM") at the casinos that are operated by SJM. The capital raised will be used to fund its redevelopment of the Fisherman's Wharf area, as well as the renovation of The Landmark Macau.

The Hogan Lovells team was led by Hong Kong-based partner Terence Lau and U.S. securities partner Man Chiu Lee, supported by consultant Nelson Tang and associates Priscilla Lee, Zheng Jianhao and Don Chan.

Commenting on the transaction Terence Lau said,

"We are delighted to have worked with the underwriters on the successful listing of Macau Legend under current market conditions. There were a number of challenges in the listing process but we are glad to have reached a successful outcome. This is an important achievement for us. "

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