Studio City International Holdings Limited’s $359.4 Million Initial Public Offering

Davis Polk advised the representatives of the underwriters on the SEC-registered initial public offering by Studio City International Holdings Limited of 28,750,000 American Depositary Shares, each representing four Class A ordinary shares, for total gross proceeds of approximately $359.4 million.

Studio City has granted the underwriters an option to purchase up to an additional 4,312,500 ADSs. The ADSs are listed on the NYSE under the symbol “MSC.”

Bank of Communications Co., Ltd. Macau Branch, ICBC (Macau) Capital Limited, Deutsche Bank Securities, Credit Suisse and Morgan Stanley acted as underwriters on the offering.

Studio City is a world-class gaming, retail and entertainment resort located in Cotai, Macau. Studio City Casino offers mass market gaming services, complemented with junket and premium direct VIP rolling chip operations. Its cinematically-themed integrated resort is designed to attract a wide range of customers by providing highly differentiated non-gaming attractions, luxury hotel rooms, diverse food and beverage establishments and complementary retail space.

The Davis Polk corporate team included partner James C. Lin (Picture), counsel Terrence R. O’Donnell and registered foreign lawyer Kevin Zhang. Counsel Alon Gurfinkel and associate Omer Harel provided tax advice. Counsel Marcie A. Goldstein provided FINRA advice.

Involved fees earner: James Lin – Davis Polk & Wardwell; Terrence O’Donnell – Davis Polk & Wardwell; Kevin Zhang – Davis Polk & Wardwell; Alon Gurfinkel – Davis Polk & Wardwell; Omer Harel – Davis Polk & Wardwell; Marcie Goldstein – Davis Polk & Wardwell;

Law Firms: Davis Polk & Wardwell;

Clients: Credit Suisse; Deutsche Bank Securities; Morgan Stanley; Bank of Communications Co., Ltd.; ICBC (Macau) Capital Limited;

Author: Michael Patrini