Daisy Ho buys stakes in SJM, pays total of US$3.45mln

Aug 19, 2021 Newsdesk Latest News, Macau, Top of the deck  

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Daisy Ho Chiu Fung (pictured in a file photo), chairman and an executive director of Macau casino operator SJM Holdings Ltd, has spent an aggregate of nearly HKD26.9 million (US$3.45 million) in five recent purchases of company stock, raising her long position in the firm to 0.13 percent from 0.05 percent prior to the acquisitions, according to transaction records filed to the Hong Kong bourse.

Tranches of shares were bought on August 11, August 12, August 13, August 16 and August 17.

In the most recent transaction on August 17, Ms Ho spent an aggregate of just above HKD6.37 million, on 1 million shares in SJM Holdings, at an average price per share of HKD6.3715.

SJM Holdings’s stock is currently trading at its lowest level in the past 18 months, show data from the Hong Kong bourse. At close of business on Thursday, the stock was valued at HKD6.120 per unit.

On March 23 last year, the stock reached a low of HKD5.900. It coincided with Macau experiencing a drastic decline in arrivals and tourism business, subsequent to a series of travel restrictions imposed respectively by the city’s government and the authorities on the Chinese mainland, amid the global Covid-19 alert.

SJM Holdings’ HKD39-billion Cotai casino resort venture, Grand Lisboa Palace, had a first-phase opening on July 30 this year, but only days later, Macau entered a pandemic prevention alert due to four local people getting infected with the Delta variant of Covid-19. Subsequently visitor numbers to Macau dipped sharply.

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