Pansy Ho sold more stakes of MGM China

As far as investors go, Ho is still the individual with the largest amount of holdings

China.- Some things changed in the last weeks in MGM China but there is something that nowadays seems common. Pansy Ho Chiu King, the chief executive director and co-chair for MGM China, took her holdings down by a 50%.

A couple of weeks ago, Pansy Ho sold $140.2 million worth of shares she had in MGM China’s parent company, MGM Resorts International, reducing her stake from 3.13% to 2.26%. 

After she sold her stakes in November, she explained that it was a personal decision because she wanted to rebalance her investment portfolio. “It is only just a restructuring of my own financial portfolio. But this is only representing a very small proportion of the holdings that I have in the company”, she said.

As far as investors go, Ho is still the individual with the largest amount of holdings. 1.78% of the company amounts to 9.1 million shares, which is the most any single person controls. 

Last month, Simon Meng has been named as the new independent non-executive director of MGM China. Also, he was announced as a member of the Audit Committee, the Nomination and Corporate Governance Committee, and the Remuneration Committee of the company.