Macau (MNA) – The Board of Directors of local gaming operator Melco Resorts & Entertainment Limited has approved a US$500 million share repurchase programme.
The decision was announced by the company’s owner, Hong Kong gaming and real estate group Melco International Development Limited, on Wednesday.
Melco Resorts are listed by way of American Depositary Receipts on the NASDAQ Global Select Market in the United States, with the decision allowing the repurchase of these shares or ordinary shares over a three-year period commencing March 21 2018.
‘The timing of the purchases and the amount of shares and/or American depositary shares purchased will be determined by Melco Resorts’ management based on its evaluation of market conditions, trading prices, applicable securities laws and other factors,’ announced the Hong Kong Stock Exchange filing.
