LAS VEGAS -- The Las Vegas Sands Monday set the terms of its pending initial public offering.
Las Vegas Sands owns and operates the Venetian Casino Resort and the Sands Expo & Convention Center in Las Vegas, and the Sands Macau Casino in Macau, China.
The company will offer 23.8 million shares with an estimated price range of $20 to $22 a share. Las Vegas Sands' common stock has been approved for listing on the New York Stock Exchange under the symbol LVS.
On Sept. 3, Las Vegas Sands filed an IPO to sell up to $350 million in common stock but did not detail the terms of the offering.
The company said it plans to use net proceeds from the IPO for general corporate purposes and working capital. It said it may use the proceeds to fund its development projects in Asia, the U.K. and in other jurisdictions.
Goldman, Sachs & Co., Citigroup, JPMorgan, Lehman Brothers, Merrill Lynch & Co., Jefferies & Co. and UBS Investment Bank were listed as the underwriters for the offering.
The underwriters also have the option to purchase up to an additional 3,571,429 shares to cover over allotments.
