Macau Legend Development to raise HK$1.35 bln through share placement

    Macau Legend Development said it’s selling shares representing about 3 percent of the company’s issued share capital through a private placement to raise about HK$1.35 billion to finance the MFW redevelopment project and for working capital. The company is selling the shares for HK$7.25 each, a discount of 7.6 percent to the closing price on the day prior to the announcement of the offer. The company also said MFW Investment is negotiating with ICBC Macau on the terms and conditions for a five-year term loan facility of up to HK$4 billion.