Melco Resorts and Entertainment Corp. files petition for delisting

MANILA, Philippines — Melco Resorts and Entertainment (Philippines) Corp.  formally filed with the Philippine Stock Exchange its petition for voluntary delisting effective Nov.13 after it completes its tender offer to shareholders.

MRP will make a tender offer to shareholders at a price of P7.25 per share or a total of P11.2 billion. The tender offer  will run from Oct. 3 to 30.

According to its financial adviser  FTI Consulting Philippines, the tender offer price is fair.

“In relation to the delisting and in compliance with the PSE rules on voluntary delisting, the corporation has been notified by MCO Philippines Investments Ltd, the majority shareholder of the corporation, that MCO Philippines intends to conduct a tender offer for up to 1.5 billion outstanding common shares by the public representing 27.23 percent of the outstanding capital stock of the corporation at a tender offer price of P7.25 per share,” Melco said.