Melco International Development's Subsidiary Repurchases Shares for $45 Million

MT Newswires Live08-19

Melco International Development's (HKG:0200) subsidiary Melco Resorts & Entertainment repurchased its 8,335,364 American depository shares on the open market for $44.5 million in cash, a Friday filing with the Hong Kong Exchange said.

Melco Resorts was authorized to repurchase its shares on the market over a three-year period for up to $500 million on June 3, after the expiry of its 2021 Share Repurchase program on June 1.

The consideration was financed by the group's liquidity funds and paid by Melco Resorts. If Melco Resorts cancels the repurchased shares, it would increase the company's holding of the resort's outstanding share capital to 52.7%.

Price (HKD): $4.19, Change: $+0.020, Percent Change: +0.48%

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