RESORTS World Manila operator Travellers International Hotel Group, Inc. announced on Wednesday its plan to voluntary delist common shares from the Philippine Stock Exchange.
“The conversion from a public entity into a private company will allow the Company to timely address evolving market demands and rapidly changing customer needs without compromising its business strategies to competition,” the hotel firm said in a statement.
Travellers International is set to conduct tender offer of up to 1.58 billion common shares. Tender offer price has yet to be determined.
Trading of the Resorts World operator shares were suspended today, Wednesday, following the announcement. TYRONE JASPER PIAD