The founder and his wife were the largest shareholders in the company but sold a large part of their stake.
Macau.- The founder and co-chairman of Macau Legend Development, David Chow Kam Fai, and his spouse, company CEO Melinda Chan Mei Yi, have dramatically reduced their stake in the company with the sale of shares to Chan Weng Lin.
Levo Chan Weng Lin, the chief executive of local junket group Tak Chun, is now the largest stakeholder aftrer his purchase of a 20.65 per cent for HK$1.34 billion (US$173.4 million).
Before the deal, David Chow and Melinda Chan held 29.89 per cent of Macau Legend, making them the largest stakeholders in the group. Now, their stake has been reduced to 9.89 per cent.
Li Chi Keung, the chairman of junket group Golden Glove, holds 18.03 per cent, and Ina Chan Un Chan, the third wife of Stanley Ho, holds a 16.28 per cent share.
Macau Legend resumed trading on the Hong Kong stock exchange today.