The Wall Street Journal 26 June 2013
Two casino companies became the latest IPOs to fall victim to the recent stock-market rout in Asia.
On Wednesday, Resorts World Manila, the Philippine casino business owned by Malaysian gambling tycoon Lim Kok Thay and Filipino partner Andrew Tan, put on hold a $500 million Manila IPO.
Meanwhile, Macau Legend Development Ltd., which has casinos in the Chinese gambling enclave, cut its Hong Kong IPO by more than half.
The two join a slew of companies across the region that have been delaying or reducing their fundraising plans following the market selloff earlier this month, as investors have turned lukewarm toward new share issuance. Investors have also been pulling money out of developing economies, dealing Asian stocks a further setback.
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Asia Market Rout Hits IPOs for Resorts World Manila, Macau Legend
