Belle Corp. and Premium Leisure Corp. have sought Wednesday voluntary trading suspension from the Philippine Stock Exchange following the decision of Belle’s board to hold a special meeting later in the day to discuss a possible tender offer for shares of its unit, Premium Leisure.
The trading suspension will be lifted Thursday.
Belle owns 79.78 percent of Premium Leisure, whose outstanding shares total 31.22 billion and market capitalization of P28.72 billion.
Premium Leisure fully owns Premium Leisure and Amusement Inc., which is a grantee of the Philippine Amusement and Gaming Corp. to operate integrated resorts, including casinos within the vicinity of PAGCOR’s Entertainment City. The license runs concurrent with PAGCOR’s congressional franchise, which expires in 2033 and renewable for another 25 years.
