MCO (Philippines) Investments Limited, the majority shareholder of Melco Resorts and Entertainment (Philippines) Corporation, has begun the tender offer for shares of the City of Dreams Manila operator.

The offer remains at PHP7.25 ($0.13), the same price as when Melco Philippines first announced the plan to buy from minority shareholders. In its filing with the Philippine Stock Exchange (PSE), the company said the tender offer period will be until November 29. Shareholders who want to dispose of their stock are required to submit their applications to tender offer agent, Maybank ATR Kim Eng Securities, Inc.

“The tendered shares shall be deemed accepted by [MCO] on 5 December 2018 at 3:00 p.m.,” the disclosure read, adding that the settlement shall be on December 13.

Melco Philippines had initially announced the tender offer to commence on October 3, but delayed this while addressing objections from traders that the selling price was low compared to when they were first sold in 2013, at a price of PHP14 ($0.26). Shares currently trade for PHP7.09 ($0.13).