Sands China: Unaware of Any Reason for Share Price Decrease Friday
08/12/2012| 09:11pm US/Eastern
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By Fiona Law
HONG KONG--Casino operator Sands China Ltd. (1928.HK), a unit of Las Vegas Sands Corp. (>> Las Vegas Sands Corp.), said Monday isn't aware of any reason behind its share price drop on Friday.
The Hong Kong-listed company's shares fell 3% to HK$24.60 Friday, after a report by the Wall Street Journal on the same day.
Las Vegas Sands Corp. is under scrutiny by the U.S. Justice Department, the Securities and Exchange Commission, and the company's audit committee for possible violations of antibribery laws, the report cited company documents and people familiar with the inquiries as saying.
Sands China said in a statement: "The company wishes to clarify that the investigations referred to in the article were filed against Las Vegas Sands Corp. (LVSC), the indirect majority shareholder of the company."
"References in the article to investigations by the 'audit committee' are references to the audit committee of LVSC and not the audit committee of (Sands China)," it added in the statement.
Write to Fiona Law at fiona.law@dowjones.com
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