* IPO pricing seen May 27
* MGM China seen raising $1 bln -IFR
* Merrill Lynch, JPMorgan, Morgan Stanley to handle IPO (Adds pricing date, banks managing IPO, use of proceeds)
HONG KONG, May 9 (Reuters) - MGM China, the venture between MGM Resorts International and casino mogul Stanley Ho's daughter Pansy Ho, has started pre-marketing for an initial public offering in Hong Kong expected to raise $1 billion, International Financing Review reported on Monday.
The company plans to sell 760 million new shares in a primary offering, or 20 percent of the enlarged company's capital, IFR, a Thomson Reuters publication, said citing a term sheet for the offering.
Pricing for the IPO is planned for May 27, IFR reported. MGM China plans to use proceeds of the offering to repay obligations owed to Grand Paradise Macau, it added.
Bank of America Merrill Lynch , JPMorgan and Morgan Stanley were hired as joint global coordinators for the offering, IFR said. (Reporting by Fiona Lau, Writing by Elzio Barreto; Editing by Ken Wills and Jonathan Hopfner)