HongKong-listed casino operator Melco International Development is seeking a spin-off and separate listing of Studio City International Holdings Ltd. in the U.S.

In a regulatory filing, Melco announced that it has submitted a draft registration statement for an initial public offering (IPO) of its American Depositary Shares (“ADSs”) representing ordinary shares on the Nasdaq Global Market or the New York Stock Exchange.

The number and dollar amount of ADSs proposed to be offered and sold have not yet been determined, according to Melco.

Studio City is 60 percent owned by Melco Resorts & Entertainment Ltd. while the remaining 40 percent are held by New Cotai Holdings LLC, an entity controlled by United States-based investment firms Silver Point Capital LP and Oaktree Capital Management LP.