MGM is selling 19 million Class A shares

American leisure and hospitality giant, MGM International, said the company received a notice of redemption from certain subsidiaries of MGM Resorts covering 37.1 mln operating partnership units of MGM Growth Properties Operating Partnership LP, a consolidated subsidiary of the company, held by such MGM subsidiaries.

The company plans to use the net proceeds of the offering to redeem 21.8 mln of such operating partnership units to partially satisfy its obligations under the redemption notice, with the remaining 15.3 mln operating partnership units to be redeemed using cash on hand.

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