MRP withdraws proposal to delist

The Philippines-based casino company Melco Resorts and Entertainment Corp (MRP) has officially pulls out from the plans to delist from the Philippine Stock Exchange (PSE), according to a filing from the company last Friday.

In September, MRP declared its decision to delist from the PSE, citing the lack of fund-raising capacity of the stock exchange.

The company’s plan was to acquire all of MRP’s public shares through a tender offer was MCO Philippines, the majority shareholder of MRP and a subsidiary of Melco Resorts.

In spite of MRP opting out of delisting, MCO Philippines plans to continue to proceed with the voluntary tender offer for 1.6 billion MRP common shares, which it says will be conducted for the purpose of increasing its shareholding interest in the company.

Source: AGBrief