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SJM Holdings, as his company is now known, owns 19 of Macau's 29 casinos and has the biggest market share, but its lead is tenuous and the deal was not an easy sell.
Hong Kong's new-issuance market is weak after many disastrous offerings this year, and for what Mr Ho wanted to sell - some shabby casinos built to serve what used to be a captive market - it is weaker still. Three years later Macau's gambling revenues have doubled, but SJM's have declined.
New figures suggest that it may soon lose its leadership to Las Vegas Sands, which owns two giant casinos, the Sands and the Venetian, that are as glittering as SJM's are grim.
Back then the Hong Kong market for public offerings was euphoric and the full impact of the entry of two rival firms from Las Vegas, Wynn and Sands, was not so apparent. Efforts to seize that opportunity, however, were delayed by a deluge of litigation by Mr Ho's sister, Winnie, who has long feuded with him over the management of the family's various casino operations.
The legal fight postponed a planned listing in January. To allow the deal to proceed this week, investors have been indemnified against any related legal costs.
The offering document was littered with titbits about Mr Ho's empire. He turns out to have an interest in a casino in North Korea; stakes in five of SJM's largest suppliers, including the ferries that bring punters to Macau; and interests in local horse- and dog-racing franchises, a Chinese lottery and various hotels and property.
Disclosing all this information cannot have been easy for Mr Ho. For years he has trod a difficult line, being one of Hong Kong's most visible personalities and appearing at society events, while also running a complicated, mysterious business empire. Why, given the weak market, has he chosen to bring it all to light now?
But the new Grand Lisboa is far from packed and still lacks an occupancy licence for the hotel above the gaming floor. A public listing now may not bring in much money, but it provides a way to raise money in future and grant ownership stakes to more competent managers.
Mr Ho must have realised that the game has changed. Leong declined to confirm these details. TVB's holding will be reduced to 29 percent from the current 49 percent. The pay-television company has been in the red since its launch, owing to the firewall provisions in the broadcasting licenses which require free-TV license holder TVB to operate independently from TVB Vision.
Leong has also been investing in property, catering and the stock market in recent years. Two years ago, she joined the board of gaming company Sociedade de Jogos de Macau and was also elected to Macau's Legislative Assembly.
The television industry is her next step.
It has nine branches and 47 ATMs in Macau. The sell-side was advised by Credit Suisse. The price represents an NAV multiple of about 3. The price paid by China Construction Bank represented a book value multiple of 1.
Huen will continue to own a Updated world stock indexes. Get an overview of major world indexes, current values and stock market data.
Organised by Young Living Singapore, RevOILution is a free event created to lead a holistic revolution towards a life of wellness. Let us learn, share and have fun together. and my tongue cleaveth to my jaws; and thou hast brought me into the dust of death. Lim Goh Tong is a deceased Malaysian-Chinese businessman and billionaire who is famous for his extraordinarily risky and successful development of gambling in Malaysia.
Goh: Just as Goh Chok Tong. Who has done his little bit to Singapore, or for Singapore.” — Goh Chok Tong, second Prime Minister of Singapore and current Emeritus Senior Minister, in . Lim Goh Tong, who died yesterday aged 90, was a Malaysian billionaire who developed one of Asia's most popular casino resorts, Genting Highlands, on an inaccessible jungle mountain top.