SJM plans to raise up to $654 mln in HK IPO- source

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HONG KONG, June 23 (Reuters) - Macau tycoon Stanley Ho's casino flagship, Sociedade de Jogos de Macau (SJM) Holdings, plans to raise up to $654 million in a Hong Kong initial public offering, a source with direct knowledge of the deal said on Monday.

The firm, which had hoped to raise $1 billion before withdrawing a planned offering in January, is selling 1.25 billion new shares, or 25 percent of its enlarged share capital, at a price between HK$3.08 and HK$4.08 per share, the source said.

Deutsche Bank (DBKGn.DE: Quote, Profile, Research) is the sponsor of the deal.

(US$1=HK$7.8)

(Reporting by KenniX Chim; editing by Anne Marie Roantree)