Fund Manager Capital Group Cuts Galaxy NT Long Position

Capital Group Companies Inc., one of the world’s largest investment managers, cut its public stake in Macau casino operator Galaxy Entertainment Group Inc by 3.17 percentage points.

Capital Group’s shareholding in Casino Group fell to 4.84% from 8.01%, in three trading sessions on August 13, 15 and 16, according to data released on the Hong Kong Stock Exchange, where Galaxy Entertainment is listed.

4,674,760 shares were disposed of in the first transaction. The event had an in-market component with an average price of less than HK$29.30 ($5.60) per share and an out-of-market component with an average price of less than HK$19.00 per share in cash.

The Aug. 15 deal included 38,194,265 shares of Galaxy Entertainment stock. The average price of components in the market was just over HK$29.32 per share, while the out-of-market segment averaged just over HK$18.93.

In the third transaction, 89,359,493 shares were sold. The event had a market component with an average price of just under HK$30.44 per share and an out-of-market component with just under HK$19.98 per share in cash.

The intra-market weighting of off-market components during the transaction was not mentioned in any of the disclosures. 동행복권파워볼

Galaxy Entertainment’s stock has been a component of Hong Kong’s benchmark Hang Seng Index since June 2013, according to Casino Group’s corporate website.

Galaxy Entertainment, which operates the Kotai-based Galaxy Macau gaming resort (pictured) and the Starworld hotel and casino in downtown Macau, posted median revenue of HK$4.39 billion, up 51.8% year-on-year.

Shares of the Galaxy closed at HK$29.55 on Aug. 15, up 1.03% on the day. By the close of Aug. 16, they were up 5.58% on the day, according to exchange data.

As of Dec. 31, Capital Group was managing $2.5 trillion on behalf of investors and institutions worldwide, according to its corporate website.