Melco Resorts and Entertainment (Philippines) Corporation announced a delay in the tender offer of its shares, “for a period of approximately two weeks or until such time that it otherwise determines,” according to a filing with the Philippine Stock Exchange.

The company must be at least 95% owned by MCO (Philippines) Investments Limited before proceeding to be delisted, a move intended to “better support and facilitate [Melco Philippines’] future business plans,” according to parent company, Hong Kong-based Melco International Development Limited.

The tender offer, however, had been criticized as “unfair” by some local traders, as reported by news outlet BusinessWorld last week, due to the tender offer price of PHP7.25 ($0.13) per share being merely about half of when the stock was first offered in 2013.

In reaction to the BusinessWorld article, Melco Philippines stated that the 2013 share price of PHP14 ($0.26) had been determined “based largely on market demand for the investment resulting from a marketing process conducted by international investment banks.” The tender offer price, on the other hand, was determined by independent financial adviser FTI Consulting Philippines, Inc., which had made its calculation based on the stock price over the past year, with the stock closing at PHP6.21 ($0.12) last September 7, just before the tender offer was announced.