Tiger Resort Asia (TRA), a subsidiary of Universal Entertainment (TYO:6425), will sell all acquired Asiabest Group International shares to Premiumlands, according to its Friday filing.
TRA originally acquired ABG to list Tiger Resort, Leisure and Entertainment (TRLEI) on the Philippine Stock Exchange, but strong financial performance at Okada Manila, the integrated resort operated by TRLEI, has made this unnecessary.
TRA will transfer 200 million shares, worth 510.4 million Philippine pesos or some 1.31 billion yen, by the end of February 2025.
Universal Entertainment's shares gained nearly 5% at market close.
Price (JPY): $1130.00, Change: $+49, Percent Change: +4.53%
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