Sheldon Adelson’s Surprising Capital Raise

Never count Sheldon Adelson out. I don’t know how many other people could manage to raise $1.62 billion in a public stock offering after their company’s shares had fallen 94%. Yes, it helps that Adelson’s putting in another $1 billion of his own money, between the $475 million he announced at the end of September and the extra $525 million he’s putting in today.

But still: well done, in this market, and well done too to Goldman Sachs, which is the sole managing underwriter and bookrunner of the offering. Assuming, that is, that Goldman genuinely sold all those shares, and isn’t just sitting on them in the hope that they’ll be able to sell them at some point in the future.

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