Court clears way for Ho casino IPO

Casino magnate Stanley Ho Hung- sun’s Macau gaming flagship, Sociedade de Jogos de Macau, announced Tuesday it had cleared a hurdle on its way to a listing in Hong Kong, with the rejection by a Macau court of an appeal lodged by Ho’s estranged sister.

Casino magnate Stanley Ho Hung- sun’s Macau gaming flagship, Sociedade de Jogos de Macau, announced Tuesday it had cleared a hurdle on its way to a listing in Hong Kong, with the rejection by a Macau court of an appeal lodged by Ho’s estranged sister.
The company said it was told officially on Monday that the listing could proceed.

The initial public offering, intended to raise HK$ 15 billion, was first scheduled as early as April.

Ho’s sister, Winnie Ho Yuen-ki, who holds a 7.3 percent stake in the parent company, Sociedade de Turismo e Diversoes de Macau, appealed to the Macau court seeking an injunction after the lawsuit she filed to the court affirmed the legitimacy of resolutions passed at a shareholders‘ meeting of STDM in March, which approved the listing of Sociedade de Jogos in Hong Kong.