Exhibit 99.1
FOR IMMEDIATE RELEASE
Studio City International Holdings Limited Announces
Launch of Initial Public Offering of ADSs
MACAU, October10, 2018 – Studio City International Holdings Limited (“Studio City”), a cinematically-themed, world-class gaming, retail and entertainment resort, today announces the launch of an initial public offering of 28,750,000 American Depositary Shares (“ADSs”), each ADS representing four Class A ordinary shares of Studio City (the “Offering”). Studio City has also granted the underwriters a 30-day option to purchase up to an additional 4,312,500 ADSs. The price range for the Offering is currently estimated to be between US$10.50 and US$12.50 per ADS. A registration statement containing a preliminary prospectus, subject to completion, relating to the Offering has been filed with the U.S. Securities and Exchange Commission (“SEC”) but has not yet become effective. The ADSs may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. Studio City expects to use the net proceeds of the Offering to acquire newly-issued shares of its subsidiary, MSC Cotai Limited (“MSC Cotai”). In turn, MSC Cotai expects to apply the net proceeds it receives for the repayment of certain existing indebtedness.
Deutsche Bank Securities Inc., Credit Suisse Securities (USA) LLC and Morgan Stanley & Co. International plc are acting as joint bookrunners of this Offering and as the representatives of the underwriters.
The Offering may be made only by means of a prospectus. Copies of the preliminary prospectus relating to the Offering of the ADSs may be obtained, when available, from Deutsche Bank Securities Inc., Attention: Prospectus Department, 60 Wall Street, New York, NY 10005, via telephone at 1-800-503-4611 or via e-mail: prospectus.cpdg@db.com; Credit Suisse Securities (USA) LLC, Credit Suisse Securities (USA) LLC, 11 Madison Avenue, New York, New York 10010-3629, Attention: Prospectus Department or by calling 1-800-221-1037, or by email at newyork.prospectus@credit-suisse.com; or Morgan Stanley & Co. LLC, 180 Varick Street, 2nd Floor, New York, NY 10014, Attention: Prospectus Department (telephone: 1-866-718-1649) or by e-mailing prospectus@morganstanley.com.
This announcement does not, and is not intended to, constitute an offer to sell or a solicitation of an offer to purchase any securities in the United States or elsewhere, and it does not, and is not intended to, constitute an offer, solicitation or sale of any securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful.
