In 1995, He Chaoqiong joined the Shun Tak Group as a director.
Chinese-American women shine brilliantly in the list of the world's top business women just published by Fortune magazine, among which businesswomen from mainland China have made outstanding achievements. After two of them made it to the top 5 last year, the number of people entering the list this year has even increased to four. The number of China and Hong Kong businesswomen on the list is also two, the same as last year.
Among them, Xie Qihua, the chairman and general manager of Shanghai Baosteel Group, ranked second, who ranked 16th in last year's list of powerful women.
He Chaoqiong, ranked 49th this year, is the managing director and executive director of Shun Tak Group.
MGM China was listed in Hong Kong a few days ago. According to the first day's quotation, its chairman, He Chaoqiong, has a net worth of US$ 3.634 billion, surpassing his father, Mr. Stanley Ho.
He Chaoqiong is worth far more than the "gambling king"
MGM China officially landed on the Hong Kong Stock Exchange on June 3, with an issue price of HK$ 15.34 per share, opening at HK$ 16.18, and closing at HK$ 1.562, down 3.46%, with the highest intraday price of HK$ 16.26 and the lowest at HK$ 1.554, with a total turnover of HK$ 5.336 billion.
according to the closing price, the market value of the shares held by He Chaoqiong, the chairman and executive director of MGM China, has reached HK$ 15.433 billion, and she realized HK$ 12.85 billion by selling 14% of the shares during the restructuring of MGM China. Together, He Chaoqiong's net worth has reached HK$ 28.283 billion, exceeding US$ 3.6 billion, surpassing his father, Stanley Ho, the gambling king of Macau. The latter is worth $3.1 billion.
According to Reuters, if you count her shares in Shun Tak Group and SJM Holdings, its total assets may reach $5 billion.
The return on investment in MGM is 18 times
He Chaoqiong, 49, is the eldest daughter of Mr. Ho's second wife. She has been in control of Shun Tak Group since her thirties, and her leadership and business skills have surpassed those of other brothers and sisters. She has always been regarded as Mr. Ho's successor. This can also be seen from her investment in MGM China.
It is reported that in 25, her initial investment in MGM China was about 8 million US dollars, and the rate of return after this listing was more than 18 times.
He Chaoqiong himself has repeatedly expressed his satisfaction with MGM's share price performance on the day of listing.
MGM China is a joint venture company of MGM, an American gaming giant, in Macau. MGM China was formerly known as MGM Super Palace, with He Chaoqiong and MGM Resorts holding 5% shares respectively. The company was reorganized before listing, and MGM China was established, which is wholly owned by MGM Chaohao Jindian. After the reorganization, the shareholding ratio of MGM Resorts increased to 51%, and He Chaoqiong's shareholding ratio in MGM China decreased from 5% to about 36%. After the listing, if all the shares are over-allocated, its shareholding will be further diluted to 26%.
after attending the listing ceremony, He Chaoqiong said that at present, there is no plan to continue to reduce the existing shares. In view of the gambling regulations in Macau, he will not participate in other gambling fields except MGM China in the future.
It is noteworthy that He Chaoqiong's participation is crucial for MGM's future development in Macau. Because she has a wide range of government and regulatory contacts. Some analysts said that she will definitely not leave in the short term.
An analyst who participated in MGM's listing also told Reuters that this investment has benefited her enormously, and from this perspective alone, she is unlikely to quit completely.
MGM China IPO is sought after
Due to the rapid growth of Macau's gaming revenue in the past six months, MGM China IPO has also been enthusiastically sought after by investors. According to media reports, MGM China's public offering was 19 times oversubscribed, and billionaire Paulson's hedge fund and Sun Hung Kai Properties were its staunch investors.
according to the statistics released by the Macao government in early may, the gaming revenue in Macao reached $2.56 billion in may, up 45% year-on-year. In 211, the gaming revenue in Macao is expected to reach five times that of Las Vegas Strip.
Credit Suisse Group recently published a research report that MGM China was given a neutral investment rating with a target price of HK$ 17.5. The report also pointed out that with the improvement of the utilization rate of gambling tables and the increase in the number of VIP rooms, it is expected that MGM China will achieve strong growth in EBITDA (pre-tax profit) this year, with an annual growth rate of 51%, which is 39% higher than the industry average growth level.