MGM China’s Chairperson and Executive Director Pansy Ho Chiu King has disposed of her entire interest in parent company MGM Resorts International via a series of transactions undertaken since late May.
According to filings with the Hong Kong Stock Exchange, Ho offloaded her existing 1.20% stake across five transactions between 28 May and 3 June for a total consideration of US$140.1 million. This comprised the sale of 3,066,157 shares for between US$42.40 and US$50.24 per share.
Ho had previously held a 4.8% stake in MGM Resorts as part of a share-swap and strategic restructuring of the partnership with MGM China.
In comments provided to IAG, MGM China said, “The stake was part of the personal investment portfolio of Ms Pansy Ho since 2011”
