New York, Aug. 13, 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 has priced its previously announced follow-on public offering at US$5.15 per ADS following market close on Wednesday, August 12, 2009.
The offering comprised a public offering of 38,834,950 ADSs. Each ADS represents three ordinary shares of Melco Crown Entertainment Limited. The underwriters have an option to purchase up to an additional 3,883,495 ADSs from Melco Crown Entertainment Limited to cover over-allotments at the follow-on public offering price of US$5.15 per ADS less the underwriting discounts and commissions covering such over-allotments of ADSs.
Lawrence Ho, Co-Chairman and CEO of Melco Crown Entertainment Limited, provided additional commentary on the transaction by saying, "Year on year growth in gaming revenues for the whole of the Macau market re-emerged in July 2009, following soon after the successful opening of City of Dreams at the start of June. We are confident that a period of growth at sustainable levels is ahead of us and we continue to remain absolutely focused on the opportunities that this will present to our Company. The placement funds raised will better position us to be able to pursue future development opportunities while at the same time maintaining our rigorous approach to balance sheet prudence."
Deutsche Bank Securities Inc. and Citigroup Global Markets Inc. are acting as joint bookrunners for the offering and CLSA Limited and Oppenheimer & Co. Inc. are acting as co-managers for the offering. 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; and from Citigroup Global Markets Inc., Attn: Prospectus Department, Brooklyn Army Terminal, 140 58th Street, 8th Floor, Brooklyn, NY 11220, telephone number: +1-800-831-9146, email: batprospectusdept@citi.com.
Melco Crown Entertainment Limited'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.
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.
