Ambrose So, CEO of Macau op SJM cuts stake for US$11mln

Aug 19, 2022 Newsdesk Latest News, Macau, Top of the deck  

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Ambrose So Shu Fai (pictured in file photo), vice-chairman and chief executive of Macau casino operator SJM Holdings Ltd, has grossed approximately HKD86.99 million (US$11.1 million) from a recent sale of some stock he held in the Hong Kong-listed firm.

Mr So disposed of shares in SJM Holdings in two exercises, dated respectively on August 12 and August 15, according to the latest transaction records filed to the Hong Kong bourse. The two exercises accounted for an aggregate of 30 million shares. As a result, Mr So’s long position in SJM Holdings has been reduced from 3.31 percent to 2.79 percent.

The average transaction price per share was HKD2.89 on August 12 and HKD2.90 on August 15.

Daisy Ho Chiu Fung, chairman of SJM Holdings, upped her stake in the firm on August 15, the Hong Kong bourse’s disclosure records show.

She increased her long position in the firm from 0.13 percent to 0.30 percent, at a cost of HKD27.78 million.

SJM Holdings recently announced a rights issue on the basis of one rights share for every four existing shares. The exercise is to be conducted on August 29, at a subscription price of HKD2.08 per rights share. The casino operator said it expected to raise net proceeds of nearly HKD2.94 billion from the exercise.

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