Melco Resorts & Entertainment Ltd has announced that Studio City International Holdings Limited – the holding company for its Studio City integrated resort in Macau – has filed a registration statement for its proposed initial public offering with the US Securities and Exchange Commission.
The registration statement has not yet become effective, but Melco said it expects the IPO to commence soon after it does and as market conditions permit.
It added that the IPO, representing Class A ordinary shares of Studio City, will be made only by means of a prospectus.
Studio City is 60% owned by Melco Resorts which in turn is 51.2% owned by Melco International. The latter announced last year that it intends to spin-off New Cotai, the privately-owned investment firm that holds the other 40% of Studio City International Holdings, as part of its IPO.
“Following completion of the proposed spin-off, the company’s interest in Studio City will be reduced although it is intended that the company will remain as Studio City’s majority shareholder after the IPO,” Melco International said at the time.