Southeastern Trims Melco Stake

Southeastern Asset Management (Southeastern) recently reduced their stake in HK-listed Melco International Development (Melco). According to a filing made to the Hong Kong Stock Exchange on May 11th, 2017, the firm sold 8,605,000 shares on the exchange at an average price of HKD 16.35 per share on May 8th (total consideration was ~US$18m). Following the sale, Southeastern’s stake in Melco decreased from 13.10% […]