Angela Leong increases interest in SJM Holdings

According to a stock filing, a 0.117 % and 6 % interest in the said 31.655 % interest in STDM are now owned by Ho and by his fourth wife, Angela Leong On Kei, respectively.

“The remaining 25.538 % interest in STDM is to be separately and/or beneficially owned by members of Ho’s families,” the filing said, without disclosing more details.

SJM Holdings stressed that it remains of the view that the share redistribution “has no effect on the company and there will be no change in management or strategic direction.”

The 6 % stake in STDM effectively raises Leong’s interest in SJM Holdings to nearly 11 % from 7.6 %.

The redistribution of Ho’s stake in STDM ended a family dispute over the control of his gaming and Business Empire. STDM is the parent company of Hong Kong-listed SJM Holdings, which owns Macau-based gaming operator Sociedade de Jogos de Macau.

Besides the share redistribution, the family agreement states that Ms Leong, managing director of Sociedade de Jogos de Macau, will continue to be responsible for the management of the gaming business for another six years, according to media reports.

Ho’s mansion at Repulse Bay Road was transferred to Angela Ho, Ho’s daughter with his first wife, also as part of the family agreement.