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Article: Wynn Macau shares jump 13 percent in HK debut

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AP Online
Article date:
October 9, 2009
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Copyright

Billionaire Steve Wynn's Macau casino company jumped 13 percent in its trading debut on the Hong Kong stock exchange Friday, reflecting stronger faith in the southern Chinese gambling city's prospects.

Wynn Macau Ltd. shares peaked at 11.40 Hong Kong dollars ($1.47) before falling back to close at HK$10.78, about 7 percent above the initial public offering price. The IPO shares were sold for HK$10.08 each, the high end of the range at which they were marketed to investors, raising $1.63 billion.

Wynn's Macau resort, whose curved, bronze-tinted tower bears a resemblance to his trademark Las Vegas hotel casino, has been immensely profitable and helped the company weather the ...

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