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Stanley Ho Fannie and Freddie money in holdings Melco International

Hong Kong media reports, Melco International recently spent a lot of casino tycoon Stanley Ho Fannie and Freddie to support Melco announced yesterday Family Foundation jointly held by Stanley Ho, establishing another wife Lucina, Lawrence Ho and other family members can suddenly early redemption Convertible bonds, involving an amount of 1.175 billion yuan, after the completion of the convertible, the shareholding Lawrence Ho and parties acting in concert surged to almost half, according to the exercise price, Lawrence Ho carrying real-time credit to reach 860 million yuan.

Remaining major shareholders were diluted

Retrieve information, Fannie and Freddie are times redeem convertible bonds issued in 2005, the original conversion price of 9.965 yuan, and expires in 2010, followed by Melco proposed conversion price will be revised to 3.93 yuan in 2009, and the maturity date until September 2013, in other words two-bedroom is times up to one year in advance of the Convertible.

After completion of the Convertible, Lawrence Ho and parties acting in concert with a significant rise in Melco shareholding to 48.49%, but the rest of the major shareholders was substantially diluted, which UBS and US funds are reduced to less than 5% LongleafPartners disclosure level, LongleafPartners parent SoutheasternAssetManagement, Deutsche Bank and JanusCapital then decreased to 7.3%, 6.9% and 6.4%.

In addition, the epic two-bedroom is convertible to overweight, the same as Melco substantial debt relief, according to information, the year ended June 30, Melco liabilities total about 1.423 billion yuan, of which about 1.318 billion yuan non-current liabilities After meant to be convertible to Melco amount of debt will drop significantly to about 248 million yuan.

Avatar epic family home after the event came to an end last year, the recent all rooms are frequently some action, which in addition to establishing another large holdings of Melco hand, the Ho Maisy previously announced shares of Sichuan Union (8020), business investment in the development of AIDS drugs According to the information now establishing another epic holdings listed companies, including Melco, Sindh (242), Melco Crown (6883) MGM China (2282), and GEM stocks River Union and MelcoLot (8198 ), according to the Friday closing price as of the calculation, the market value of all holdings of more than 40 billion yuan.

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