Finance History|11 Wall Street — Twenty-Nine Dollars for a Venetian Book Called LVS
· 2004-12
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Finance History|11 Wall Street — Twenty-Nine Dollars for a Venetian Book Called LVS
kevin
People treat Las Vegas Sands as a Macao resort house that always printed LVS after a finished New York book.
The 2004 issuer was Las Vegas Sands Corp., owner of the Venetian Casino Resort on the Las Vegas Strip and the then-new Sands Macao.
The company's investor FAQ records an offering of 23,809,524 common shares at 29.00 U.S. dollars a share in December 2004 dollars.
The same FAQ states that the shares began trading on the New York Stock Exchange on 14 December 2004 under LVS.
Contemporary market reports put the first print near 36.01 U.S. dollars that morning.
Goldman Sachs led the underwriting.
A company filing described the Adelson family as retaining about 88 percent of the stock after the sale.
The letters LVS still open on the New York Stock Exchange.
The mechanism is a 2004 cash initial public offering that opened a single casino book rather than a spin from a listed parent.
The pin is the public Broad Street facade of the 1903 New York Stock Exchange building, the present street marker for the tape that prints LVS.
Interior trading is not visitable from the sidewalk.
Photo: Arild Vagen, August 2017, CC BY-SA 4.0, via Wikimedia Commons. New York Stock Exchange from Broad Street.
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