Asia

Lawrence Ho raises shareholding in Melco

Published

6 years ago

November 22, 2018

Niji Narayan

Melco Switches Focus to Yokohama, Withdraws from Osaka Bid

Photo Source: japantimes.co.jp

Reading Time: < 1 minute

Lawrence Ho, Chairman and CEO of Melco Resorts and Entertainment, has raised his stakes in the company by about3 per cent.

The company’s board has approved the repurchase of ordinary shares. The company’s latest filing to Nasdaq reealed the news. Now Ho, along with majority shareholder Melco International Development and Melco International subsidiary Melco Leisure and Entertainment, holds 53.8 per cent stakes in the company.

“Ho may be deemed to beneficially own an aggregate of 829,115,396 ordinary shares of Melco International, representing approximately 54.05 per cent of Melco International’s ordinary shares outstanding,” the filing said.

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Niji Narayan

Niji Narayan has been in the writing industry for well over a decade or so. He prides himself as one of the few survivors left in the world who have actually mastered the impossible art of copy editing. Niji graduated in Physics and obtained his Master’s degree in Communication and Journalism. He has always interested in sports writing and travel writing. He has written for numerous websites and his in-depth analytical articles top sports magazines like Cricket Today and Sports Today. He reports gaming industry headlines from all around the globe.