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Pansy Ho Sells Entire Stake in MGM Resorts Intl (MGM.US); MGM CHINA (02282.HK) Dive 5% This Morning
Recommend 1 Positive 8 Negative 13 |
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Pansy Ho, MGM CHINA (02282.HK) Chairman cum Executive Director, disclosed that she sold more than 3.066 million shares of MGM Resorts International (MGM.US) over five consecutive trading days on May 28-29 and June 1-3, fully exiting her stake and cashing in a total of USD140 million (approximately HKD1.1 billion). Following the disposal, she no longer holds any shares in MGM Resorts International. At present, MGM Resorts International and Ho hold 55.95% and 22.49% stakes in MGM CHINA, respectively. People Inc., controlled by US media mogul Barry Diller, proposed last week to acquire an additional 24.1% stake in MGM Resorts International (MGM.US) at USD48.3 per share, which would raise its shareholding to slightly above 50% and secure a controlling interest. MGM CHINA opened 4.12% lower today, hitting an intraday trough of HKD10.8. It last reported at HKD10.85, down 4.99%, with 9.302 million shares traded, involving HKD106 million in turnover. AASTOCKS Financial News |
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