Daisy Ho, chairperson of SJM Holdings, has purchased approximately $3 million worth of the company’s bonds through several transactions in early March, according to filings with the Hong Kong Stock Exchange.
Disclosure forms filed on March 11th show that Ho acquired a total of $3 million in principal amount of 6.5 percent senior notes due 2031 issued by SJM International Limited, an associated company of SJM Holdings. The purchases were carried out in three separate transactions between March 6th and March 10th.
The first transaction took place on March 6th, when Ho purchased $1.5 million in notes at an average price of approximately $999.93 per $1,000 unit. This was followed by a purchase of $1 million on March 9th at an average price of about $989.11 per unit, and a further acquisition of $500,000 on March 10th at roughly $995.29 per unit.
Following the transactions, Ho’s total interest in the debentures increased from zero to $3 million in principal amount, held in her capacity as beneficial owner, the filings show.
The bonds are part of a $540 million issuance of 6.5 percent senior unsecured notes due in 2031. According to the filings, the notes are freely transferable but are not convertible into shares of the issuer or any other company.
SJM Holdings is one of the six gaming concessionaires in Macau, operating casinos including the Grand Lisboa and Grand Lisboa Palace. Ho, daughter of the late casino magnate Stanley Ho, serves as chairperson and executive director of the company.
