Golden Harvest chair sells off 12%

Stake sold for $13.2 million

HONG KONG — Golden Harvest Entertainment chairman Raymond Chow has sold a $13.2 million stake in the film exhibition and distribution company.

Chow’s sale of 80 million shares to Prudential Asset Management Asia and other investors reduces his stake in the company he founded from 34% to about 22%.

Just last month, Chow bought an additional 4.8% share of the company from investor Village Roadshow. In addition, Village Roadshow sold 22% to Acer Digital, an arm of the Taiwanese computer manufacturer, and 8% to a Taiwanese investment company.

Chow and his associates also have sold the entire issued share capital of Golden Harvest Film Prods. and Golden Harvest (Marks) to Golden Harvest Entertainment for $19.4 million.