May 6, 2009 (FinancialWire) — Melco Crown Entertainment Ltd. (NASDAQ: MPEL) is commencing a public offering of 15 million American Depositary Shares (ADSs), representing 45 million ordinary shares, and an additional 56.25 million ordinary shares. Each ADS represents three ordinary shares.

In connection with the offering, Melco Crown Entertainment has granted an option to purchase up to an additional 3.75 million ADSs to the underwriters of the offering for the purpose of covering over-allotments. Deutsche Bank Securities Inc. is acting as sole book runner for the offering and Merrill Lynch (NYSE: MER), Pierce, Fenner & Smith Inc. and Oppenheimer & Co. Inc. are acting as co-managers for the offering.

A special purpose vehicle that is fifty-fifty percent owned by Melco Crown Entertainment’s two largest shareholders, Melco International Development Ltd. and Crown Ltd., has committed to purchase the 56.25 million ordinary shares being offered, which will constitute 50% of the total transaction value if the underwriters’ over-allotment option is exercised in full.

FinancialWire(tm) is a fully independent, proprietary news wire service. FinancialWire(tm) is not a press release service, and receives no compensation for its news, opinions or distributions. Further disclosure is at the FinancialWire(tm) web site (http://www.financialwire.net/disclosures.php). Contact FinancialWire(tm) directly via inquiries@financialwire.net.

Free annual reports for companies mentioned in the news are available through the Free Annual Reports Service (http://investrend.ar.wilink.com/?level=279

Legal Disclaimer:

EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.