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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