The company developing the Cotai integrated resort will receive about US$500 million to invest in Phase 2 of construction.<\/p>\n\n\n\n\n\n\n\n
Macau.- Melco International Development Limited has announced its purchase of new Class A shares issued by Studio City International Holdings.<\/p>\n\n\n\n
Through the agreement, Studio City will obtain approximately US$500 million, which will be used to finance the development of Phase 2 of its Cotai integrated resort, as well as for general corporate purposes such as financing working capital and repayment of debts.<\/p>\n\n\n\n
The Melco subsidiary was already the majority owner in the Studio City integrated resort. This latest operation will increase its share from 54.1 per cent to 54.7 per cent.<\/p>\n\n\n\n
Melco said in a filing to the Honk Kong Stock Exchange that it will acquire 72,185,488 Class A shares at a price of US$3.89 each, plus an aggregate subscription price of US$280,801,548.32.<\/p>\n\n\n\n
In addition, the minority stakeholder, New Cotai, also agreed to purchase about 49,119,164 Class A shares, at US$3.89 each plus an aggregate subscription price of US$191,073,547.96. This will allow the firm to increase its stake in the integrated resort from 36.82 per cent to 37.22 per cent.<\/p>\n\n\n\n
In July, Melco acquired another series of private placements<\/a><\/strong><\/em> from Studio City for a value of US$500 million. The firm\u2019s chairman, Lawrence Ho Yau Lung, later purchased another US$60 million<\/a><\/em><\/strong> in notes from the Cotai holding.<\/p>\n","protected":false},"excerpt":{"rendered":" The company developing the Cotai integrated resort will receive about US$500 million to invest in Phase 2 of construction.<\/p>\n","protected":false},"author":2,"featured_media":8662,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"Melco International Development Limited and minority stakeholder New Cotai have increased their stakes in Studio City International Holdings through a US$500 million Class A share issuance. This capital injection is earmarked for the Phase 2 development of Studio City's Cotai integrated resort, alongside general corporate purposes including working capital and debt servicing. This strategic financing reinforces the resort's expansion trajectory and shareholder commitment.","focusai_entities":"Melco International Development Limited, Studio City International Holdings, New Cotai, Lawrence Ho Yau Lung","focusai_location":"Macau, Cotai, Hong Kong","focusai_target_profile":"ceo_executive (0.9), regulator (0.7), compliance_legal (0.7), operator_casino (0.9), investor_analyst (0.95), supplier_vendor (0.7), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Cotai Phase 2 ROI?","query":"What is the projected return on investment and timeline for the Phase 2 development of the Cotai integrated resort, considering the current market dynamics in Macau?"},{"label":"Melco's Capital Strategy?","query":"How does Melco's continued capital allocation to Studio City align with its broader corporate strategy for regional expansion and asset optimization within the iGaming and hospitality sectors?"}],"footnotes":""},"categories":[157,16338],"tags":[257,665,22113],"class_list":["post-8658","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-news","category-east-asia-news","tag-macau","tag-melco","tag-studio-city"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/8658","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=8658"}],"version-history":[{"count":2,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/8658\/revisions"}],"predecessor-version":[{"id":8665,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/8658\/revisions\/8665"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/8662"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=8658"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=8658"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=8658"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}