In a sign of strong demand, Melco PBL priced 60.25 million ADS (7.25 million ADS more than expected) at $19, a 12% premium to the mid-point of its proposed $16-$19 range. Melco PBL currently operates six casual slot parlors known as Mocha Clubs with 1,000 total machines and is also developing three casino resorts in Macau, for which it plans to commit an estimated $3.3 billion. Credit Suisse, Citigroup and UBS Investment Bank acted as joint book-running managers for the IPO, and the stock is expected to begin trading on the NASDAQ under the symbol "MPEL" on Tuesday. For more information on the company, view our "Featured IPO of the Week" write-up.
