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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Waddell and Reed Financial | NYSE:WDR | NYSE | Common Stock |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 24.98 | 0 | 01:00:00 |
By Prudence Ho
HONG KONG--U.S. asset manager Waddell & Reed Financial Inc. (WDR) is seeking to raise up to US$258 million by selling shares in Sands China Ltd. (1928.HK) and Wynn Macau Ltd. (1128.HK), according to a term sheet seen by Dow Jones Newswires on Thursday.
Waddell & Reed is selling 41 million Sands China shares at an indicative price range of HK$24.18-HK$24.68 each, the term sheet said, representing a discount of 3%-5% to the shares' closing price Thursday of HK$25.45.
The U.S. asset manager is also selling 55.5 million Wynn Macau shares at an indicative price range of HK$17.53-HK$17.90 each, the term sheet said, representing a discount of 3%-5% to the shares' closing price Thursday of HK$18.46.
UBS is the bookrunner for the placements, the term sheet said.
Write to Prudence Ho at prudence.ho@dowjones.com
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