Macau casino IPO survives challenge

Billionaire casino magnate Stanley Ho plans to move ahead with his Macau gambling company's debut on the stock exchange next week after a court on Wednesday thwarted a legal challenge from his estranged sister.

The Hong Kong court refused to grant Winnie Ho an injunction to stop the listing of Sociedade de Jogos de Macau, or SJM.

In a written decision, a justice rebuffed her argument that regulators and the exchange should never have allowed the listing because of her pending litigation over SJM's parent company.

It was the latest turn in a bitter public feud between the two sibling tycoons, who fell out in 2001. She has since gone out of her way to stop his company from listing in Hong Kong, and has filed dozens of lawsuits over the years.

Read Full Article from CNNMoney.com

- Posted: 2008-07-09 10:58:34

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