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Travellers aiming to delist from Philippine Stock Exchange on 21 October

Newsdesk by Newsdesk
Fri 23 Aug 2019 at 05:01
New gaming space sees GGR soar at Resorts World Manila in 1H19

Resorts World Manila

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Resorts World Manila operator Travellers International Hotel Group, Inc has proposed 21 October 2019 as the date it will delist from the Philippine Stock Exchange.

The company – a joint venture between Genting Hong Kong and Alliance Global Group – announced its privatization plans last week, explaining that the move would “allow the company to timely address evolving market demands and rapidly changing customer needs without compromising its business strategies to competition.”

A tender offer was launched on Monday with Travellers looking to acquire a minimum of 838,212,542 common shares in order to push the stake held by non-public shareholders to at least 95%. Travellers also previously announced an offer price of Php5.50 per common share.

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Tags: delistingPhilippine Stock ExchangePhilippinesResorts World ManilaRWMtender offerTravellers International Hotel Group
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The IAG Newsdesk team comprises some of the most experienced journalists in the Asian gaming industry. Offering a broad range of expertise, their decades of combined know-how spans multiple countries across a variety of topics.

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