Studio City International Holdings, a Macau-based entertainment resort and casino being spun out of Melco International, filed on Friday with the SEC to raise up to $115 million in an initial public offering. However this deal size is likely a placeholder for an IPO that we estimate could raise $300 million.
The Hong Kong-based company was founded in 2015 and booked $568 million in revenue for the 12 months ended June 30, 2018. It plans to list on the NYSE under the symbol MSC. Studio City International Holdings filed confidentially on August 14, 2017. Deutsche Bank, Credit Suisse and Morgan Stanley are the joint bookrunners on the deal. No pricing terms were disclosed.
