Melco Crown Entertainment Limited (MPEL) announced that its board has authorized a 2015 stock repurchase program following the expiry of the 2014 share repurchase mandate and the grant of the 2015 share repurchase mandates by the shareholders at the Company's annual general meeting held on May 20, 2015.
Under the 2015 stock repurchase program, the company is authorized to carry out on-market repurchases of up to an aggregate of US$500 million of their trading value from May 20, 2015 to the conclusion of the next annual general meeting of the Company in 2016 or the revocation or variation of such 2015 share repurchase mandates by shareholders of the Company in general meeting.
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