(Source: PrimeNewswire)
NEW YORK, April 28, 2009 (GLOBE NEWSWIRE) -- Melco Crown Entertainment Limited (Nasdaq:MPEL), a developer and owner of casino gaming and entertainment resort facilities focused on the Macau market, today announced that it is commencing a public offering of 15,000,000 ADSs (representing 45,000,000 ordinary shares) and an additional 56,250,000 ordinary shares. Each ADS represents three ordinary shares of Melco Crown Entertainment. In connection with the offering, Melco Crown Entertainment has granted an option to purchase up to an additional 3,750,000 ADSs (representing 11,250,000 ordinary shares) to the underwriters of the offering for the purpose of covering over-allotments. Deutsche Bank Securities Inc. is acting as sole bookrunner for the offering and Merrill Lynch, Pierce, Fenner & Smith Incorporated and Oppenheimer & Co. Inc. are acting as co-managers for the offering.
A special purpose vehicle that is fifty-fifty percent owned by Melco Crown Entertainment's two largest shareholders, Melco International Development Limited and Crown Limited, has committed to purchase the 56,250,000 ordinary shares being offered, which will constitute 50% of the total transaction value if the underwriters' over-allotment option is exercised in full.
Melco Crown Entertainment's registration statement relating to the securities offered in the follow-on public offering was declared effective as of April 21, 2009 by the U.S. Securities and Exchange Commission. This press release does not constitute an offer to sell or a solicitation of an offer to buy any securities, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. The offering of these shares is being made only by means of a prospectus supplement and related prospectus. A copy of the prospectus relating to this offering may be obtained from Deutsche Bank Securities, Attn: Prospectus Department, 100 Plaza One, Jersey City, NJ 07311, telephone number: +1-800-503-4611, email: prospectusrequest@list.db.com.
Safe Harbor Statement
This announcement contains forward-looking statements. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. In some cases, forward-looking statements can be identified by words or phrases such as "may," "will," "expect," "anticipate," "target," "aim," "estimate," "intend," "plan," "believe," "potential," "continue," "is/are likely to" or other similar expressions.
