On Sept 18, 22 million shares were forced sold; the following day, another 10 million shares were sold.
Melvin Ang, executive chairman of mm2 Asia, has seen his stake in the company reduced by 50 million shares this past week to around 856 million shares, equivalent to 13.1%.
This reduction came after forced selling by CGS International of shares held with the broker over three days, "triggered by a decline in the margin maintenance ratio below the required threshold."
