Stanley Ho sells remaining SJM stake
Ailing tycoon Stanley Ho Hung Sun is out of the picture at the gaming company he founded, after selling his remaining 0.09 percent stake in casino operator SJM Holdings in an off-exchange transaction on Wednesday.
According to a disclosure on the Hong Kong stock exchange he sold five million shares worth HKD 76.4 million.
At the same time Ho’s fourth wife, Angela Leong On Kei, bought the same amount of shares for the same price, HKD 15.28 per share. The executive director of SJM now owns 8.29 percent of the company.
The operation is likely one more step in an agreement to split the millionaire’s wealth among his relatives after a bitter family dispute.
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