Belle Corp says it hasn’t finalized any details on a potential sell down of its stake in its Sinophil unit, which was spun off from the company earlier this year and now holds all the group’s gaming assets.
“We confirm that Belle has engaged CLSA to study the feasibility of a possible secondary offering by Belle Corporation of its shares in Sinophil Corporation. The company is working closely with CLSA to review its options, but no details have been decided or finalized at this time regarding the timing and size of any potential secondary offering,” the company said in a filing with the Philippine Stock Exchange.
The company was asked to make the disclosure following news reports that Belle has begun the pre-marketing for a $200 million stake sale. Belle is developing the City of Dreams integrated resort in Manila’s Entertainment City with Melco Crown. The IR is scheduled to open later this year.