Premium Leisure Corp nears delisting from Philippines Stock Exchange
Some 19.77 per cent of PLC’s outstanding capital stock has been tendered.
The Philippines.- Premium Leisure Corp. (PLC) has announced that 19.77 per cent (6,172,192,242) of its common shares were tendered during its tender offer period. When the sales are settled, Belle Corp., its parent company, will own 99.55 per cent of PLC’s outstanding capital stock, leaving only 0.45 per cent in the public float.
The proposal for a mandatory tender offer to facilitate delisting from the Philippine Stock Exchange (PSE) approved by the Board of Directors on March 11.
Premium Leisure earns a share of gaming revenue generated at City of Dreams Manila and has a lottery operation via Pacific Online Systems. Revenue was up 41 per cent year-on-year to PHP2.33bn (US$41.6m) for full year 2023. Net income was PHP2.33bn (US$41.6m), up 85 per cent.
