Melco Resorts Philippines delisted Tuesday from PSE: firm
Philippine casino operator Melco Resorts and Entertainment (Philippines) Corp will be delisted from the country’s stock exchange with effect from Tuesday (June 11). The company confirmed the fact in a filing on Monday.
“The corporation hereby informs the public that per Philippine Stock Exchange (PSE) Memorandum CN No. 2019-0023 dated May 14, 2019, the corporation will be automatically delisted from the official registry of the PSE effective on June 11, 2019, by reason of its public ownership remaining below the minimum threshold prescribed under the PSE Rule on Minimum Public Ownership for a period of more than six months,” the document stated.
The PSE had warned Melco Resorts Philippines in May that it would delist the company unless at least 10 percent of its stock was floated at the exchange by June 11.
The exchange had previously suspended trading in Melco Resorts Philippines shares on December 10 last year because of its failure to obey the rule on minimum public ownership.
Melco Resorts Philippines runs the City of Dreams Manila casino resort (pictured), in the Philippine capital. The firm is ultimately controlled by Melco International Development Ltd – the latter a Hong Kong-listed investor in casinos in Asia, Europe and Australia – headed by entrepreneur Lawrence Ho Yau Lung.
Melco International had planned to take Melco Resorts Philippines off the stock exchange via a tender offer completed in late November last year. The firm encountered resistance from some stockholders and it withdrew its petition for voluntary delisting of the company.
The attempt to take the subsidiary private left just approximately 2.1 percent of Melco Resorts Philippines stock available to the investing public, meaning the company had broken the rule on minimum public ownership.
Related articles
Latest News
G2E Asia 2023: Singapore
-
Alfastreet’s new Verso cabinet heading to Asian markets Alfastreet, a manufacturer of electronic gaming machines,... -
Sega Sammy Creation growing land-based, eyes online Casino equipment maker Sega Sammy Creation Inc is tweaking... -
iGaming growing in Asia, ops tackling challenges: Uplatform The iGaming segment in Asia “has grown rapidly” since... -
‘See before you play’ slot marketing tool, say tech... Showing slot machine players – via animations on the... -
Macau stocks tied to China outlook: Bloomberg analyst Macau stocks in likelihood “have been punished too much... -
Investors still eye possible fresh IR locations in Japan:... There are foreign companies still interested in investing... -
Thai casino law possible in 2024, IR in 2030: govt adviser Thailand could pass the necessary enabling legislation for... -
China still ‘critical’ to Asian markets: G2E Asia panel China will remain a key market for Asian gaming... -
Much interest in state casinos sale, says Pagcor boss Alejandro Tengco (pictured in a file photo), chairman and... -
Gaming industry in for a very exciting period: Bill Miller There are “plenty of reasons” for the global gaming... -
IGT flags route to high-performing games for Asia Gaming equipment provider International Game Technology Plc... -
G2E Singapore trade show, conference begins today The Global Gaming Expo (G2E) Asia 2023 Special Edition:... -
Novomatic’s Black Edition II cabinets at G2E in Singapore Austria-based gaming equipment maker and operator Novomatic... -
Uplatform to show latest iGaming products at G2E Singapore Sports betting and online casino operating platform... -
L&W ambition to be No1 in Asia well on its way: SVP... The business performance in Asia of gaming content and... -
G2E Singapore expecting 6k visitors, 100+ exhibitors The organisers of Global Gaming Expo (G2E) Asia 2023... -
‘Dragon Unleashed’ slot link by L&W at G2E in... Gaming content and equipment supplier Light & Wonder... -
Sega Sammy Creation new multi-ETG at G2E in Singapore Casino equipment maker Sega Sammy Creation Inc is to... -
Aristocrat at G2E Asia in Singapore previews Year of Dragon Casino slot machine and digital gaming content provider... -
IGT ‘Prosperity’ link in Asia show debut G2E in... The Global Gaming Expo (G2E) Asia event in Singapore is the... -
Thai parliament adviser on casinos attending G2E Singapore An adviser to a Thailand parliamentary committee mulling...
Sign up to our FREE Newsletter
(Click here for more)
Most Popular
Lam Yi Young resigns as deputy CEO Resorts World Sentosa June 2, 2023 
MBS en route to US$500mln quarterly EBITDA: LVS boss June 1, 2023 
China stimulus package could benefit Macau stocks: CBRE June 2, 2023
