Premium Leisure to be delisted from Philippines Stock Exchange

Belle Corp has completed a tender offer for outstanding capital stock.

The Philippines.- Belle Corp has concluded a tender offer for the voluntary delisting of Premium Leisure Corp (PLC) from the Philippine Stock Exchange (PSE). It now holds a 99.55 per cent stake in the subsidiary. The tender offer, which closed on May 9, saw Belle Corp purchase slightly over 6.17bn shares at PHP0.85 each, amounting to nearly PHP5.25bn (US$90.7m). PLC will be delisted on July 9.

PLC 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.