CITY of Dreams operator Melco Resorts and Entertainment Philippines Corp. (MRP) is planning to delist from the Philippine Stock Exchange (PSE) and is preparing to buy back shares held by the public. Melco Resorts told the bourse on Monday that its board had approved the voluntary delisting of its common shares. Full information on the tender offer will be filed with the Securities and Exchange Commission and the PSE “on or around” September 17, Melco Resorts said. Melco International said MCO believes that the tender offer would give existing Melco Resorts shareholders an opportunity to realize a premium on their investment. Delisting, it added, will allow MCO to consolidate its interests in Melco Resorts “to better support and facilitate MRP’s future business plans.”Loading...

Source: Manila Times September 10, 2018 16:18 UTC