Choi Chiu Fai Stanley, International Entertainment Corp\u2019s (IEC) chairman has sold 8.66 per cent of the company\u2019s share capital for about HK$40m (US$5.2m).<\/p>\n\n\n\n\n\n\n\n
The Philippines.- International Entertainment’s chairman Choi Chiu Fai Stanley has reduced his stake in the company from 27.4 per cent to 18.75 per cent<\/strong>. The chairman sold off about 8.66 per cent of the company\u2019s share capital for about HK$40m ($5.2m). The sale comes after the company said Choi’s Brighten Path company would sell shares worth about 20 per cent<\/a> of the total.<\/p>\n\n\n\n The company has sold 27.5m shares to an unidentified third party with no links with the operator and 91m shares on the open market. The first lot went for $0.30 per share and the second at $0.35 on average.<\/p>\n\n\n\n In March,\u00a0<\/strong>Choi transferred 260m shares<\/a>\u00a0\u2013 18.99 per cent of the company \u2013\u00a0to a company owned by IEC\u2019s chief executive officer\u00a0Ho Wong Meng<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":" Choi Chiu Fai Stanley, International Entertainment Corp\u2019s (IEC) chairman has sold 8.66 per cent of the company\u2019s share capital for about HK$40m (US$5.2m).<\/p>\n","protected":false},"author":176,"featured_media":9597,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"International Entertainment Corp's (IEC) Chairman, Choi Chiu Fai Stanley, has divested 8.66% of the company's share capital for approximately HK$40m (US$5.2m), reducing his stake from 27.4% to 18.75%. This transaction follows a prior transfer of 18.99% of shares to IEC's CEO, Ho Wong Meng, indicating a significant shift in the company's ownership structure and control dynamics.","focusai_entities":"Choi Chiu Fai Stanley, International Entertainment Corp, IEC, Ho Wong Meng, Brighten Path","focusai_location":"The Philippines","focusai_target_profile":"ceo_executive (0.9), regulator (0.7), compliance_legal (0.8), investor_analyst (1.0), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Strategic Implications of Divestment?","query":"What are the strategic implications of the Chairman's reduced stake for IEC's future capital allocation and operational strategy, particularly concerning its gaming verticals in the Philippines?"},{"label":"Governance Framework Impact?","query":"How does this divestment impact the company's governance framework and the balance of power within the board, especially following the previous share transfer to the CEO?"}],"footnotes":""},"categories":[163,16333],"tags":[20632,23727],"class_list":["post-25440","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance-news","category-south-east-asia-news","tag-iec","tag-international-entertainment-corp"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/25440","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/users\/176"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=25440"}],"version-history":[{"count":3,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/25440\/revisions"}],"predecessor-version":[{"id":25451,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/25440\/revisions\/25451"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/9597"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=25440"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=25440"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=25440"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}