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SJM Chairman Stanley Ho Cuts Stake In Firm To 56.34%

by Newsdesk

Wed 15 Dec 2010 at 11:34

2

SHARES

44

VIEWS

By Joanne Chiu

DOW JONES NEWSWIRES

HONG KONG (Dow Jones)–SJM Holdings Ltd. (0880.HK) chairman Stanley Ho cut his stake in Macau’s largest casino operator by revenue by 7.03 percentage points to 56.34% on Friday, according to a disclosure to the Hong Kong Stock Exchange Tuesday.

On the same day, Ho’s fourth wife Leong On Kei, Angela, raised her stake in SJM Holdings to 7.69% from 0.66%. Leong is an executive director of SJM Holdings.

Ho’s off-market sale of 381,262,500 shares was valued at HK$4.93 billion (US$633.6 million), according to a Dow Jones Newswires calculation based on the stock’s closing price of HK$12.92 Friday.

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Newsdesk

The IAG Newsdesk team comprises some of the most experienced journalists in the Asian gaming industry. Offering a broad range of expertise, their decades of combined know-how spans multiple countries across a variety of topics.

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