HONG KONG--(BUSINESS WIRE)--Walkers, the leading International Financial Centre law firm, is pleased to announce it acted as Cayman Islands counsel to MGM China Holdings Limited on its HK$11.7 billion (US$1.5 billion) Hong Kong initial public offering.

The listing of casino joint venture, MGM China Holdings Limited on the Hong Kong Stock Exchange took place on June 3, 2011 and the Walkers team was led by partner Denise Wong.

"MGM China Holdings Limited is one of many high profile international companies that have either listed recently or plans to list on the Hong Kong Stock Exchange, underlining its attractiveness as a listing venue," commented Ms. Wong. "Over the past two years, Hong Kong has led the world's stock exchanges in terms of funds raised via new share offerings."

MGM China Holdings sold 760 million shares at HK$15.34, which was at the higher end of the offer price range. The shares closed 2% higher at $15.62 on the first day of trading.

MGM China Holdings Limited is a joint venture between MGM Resorts International, the owner of some of the largest casinos in the US and Pansy Ho, the daughter of Macau gambling tycoon Stanley Ho, the largest casino operator in Macau.

Valued at US$1.5 billion, international press reports have ranked MGM China Holdings Limited's IPO as the fourth biggest gaming IPO globally. The world's largest gaming IPO was Sands China's US$2.5 billion Hong Kong listing in November 2009, which Walkers was also Cayman Islands counsel with Denise Wong as lead partner.

MGM China Holdings Limited's IPO is the third largest to take place in Hong Kong this year, behind the US$2 billion Shanghai Pharmaceutical and the US$1.6 billion renminbi denominated Hui Xien REIT.

"Current market conditions have created an excellent window of opportunity for international businesses to list on the Hong Kong Stock Exchange and Walkers is delighted to be involved in so many high profile IPOs this year and to assist these companies in achieving their listing objectives," Ms. Wong added.

About The Walkers Group

From offices in the British Virgin Islands, Cayman Islands, Delaware, Dubai, Dublin, Hong Kong, Jersey, London, and Singapore, the Walkers group provides legal and management services to leading FORTUNE 100 and FTSE 100 global corporations and financial institutions, capital markets participants, investment fund managers, and growth-and middle-market companies. The Walkers Group is comprised of leading offshore law firm, Walkers, and management services provider, Walkers Management Services, which specialises in corporate and fiduciary services.

Walkers’ expertise has been validated by numerous awards including “Offshore Law Firm of the Year" by Alpha Magazine, The Lawyer, PLC Which Lawyer?, International Financial Law Review - Asia and Asian Legal Business. Walkers has also been honoured as the PLC Which Lawyer? Yearbook Leading Cayman Islands Law Firm, Who's Who Legal Law Firm of the Year: Cayman Islands and has shared honours for “Offshore Legal Team of the Year” by the Society of Trust and Estate Practitioners (STEP). Many of Walkers’ attorneys have also been recognised by the industry and their peers.

For further information please visit us on the web at www.walkersglobal.com or contact Simone Soong, Marketing Manager on +852 2596 3302 or email simone.soong@walkersglobal.com.

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