Melco International ( (HK:0200) ) just unveiled an update.
Melco International announced a major transaction involving a share repurchase program by its subsidiary, Melco Resorts & Entertainment Limited. The program allows Melco Resorts to buy back up to US$500 million worth of its shares and/or ADSs over three years. As of the announcement, approximately 32.4 million ADSs have been repurchased for US$174 million. The company has secured shareholder approval to proceed with the repurchase program without further meetings, ensuring compliance with listing rules. This move is expected to impact the company’s financial structure and market positioning, potentially enhancing shareholder value.
More about Melco International
Melco International Development Limited, incorporated in Hong Kong, operates in the leisure and entertainment industry. Its primary focus is on the development and operation of casino gaming and entertainment resort facilities, with a significant market presence in Asia.
YTD Price Performance: -7.61%
Average Trading Volume: 4,950
Technical Sentiment Signal: Strong Buy
Current Market Cap: $764.4M
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