The company has applied with the Hong Kong Stock Exchange in order to get a listing on the main board of the Asian stock market. The timing and terms of the initial public offering have not been set as of yet. The company needs to do something to improve the financial picture for the company as they’ve had to halt work on their newest developments in Macau due to the tight credit markets and they have been straining to meet loan payments.
JPMorgan gaming analyst Joe Greff said the Sands could raise upwards of $2 billion by giving up to 30% of the equity in its Macau operations to stand behind the IPO. He told investors that the IPO was a step on the way to “improved liquidity and increased financial flexibility”.
The company has said that the money raised by the possible IPO would enable them to renew construction on their newest developments in Macau’s Cotai Strip that the company had to suspend back in November of last year.