The International Financing Review on Monday reported that MGM China, a joint venture in the gambling arena between MGM Resorts International, founded by Kirk Kerkorian and Pansy Ho, daughter of Billionaire, Stanley Ho will seek to raise an amount of $1.5 million in the IPO (Initial Public Offering) i. e. the first sale of stock by a company to the public in Hong Kong.

MGM China Holdings Ltd. aims at selling 760 million shares in the IPO. In order to determine the investor interest in the first offering and decide on a price choice for the deal, MGM China has begun premarketing for the IPO in Hong Kong. The company plans of initiating a road show on 17th May and commencing the offering on 23rd May.

It was also found that J. P. Morgan Chase & Co., Bank of America-Merrill Lynch, Morgan Stanley were appointed to jointly manage MGM China’s IPO. The company aspires to get enlisted on the Hong Kong stock exchange, the Asia's second largest stock exchange, in terms of market capitalization on 3rd June.