Mr. Chen and his Shanda Group company affiliates sold 1.73 million shares of CHS from March 4-5 for between $8.70 and $8.73 per share, bringing in a total of $15.1 million. The move comes after he sold more than 16 million shares of CHS between Nov. 10 and Jan. 15.
Mr. Chen, a pioneer in China’s online gaming industry, began buying up shares of CHS in 2016. The last public comment the investor made about CHS was in 2018, when Shanda Group said it had a “good relationship” with CHS and supported the company’s strategy and management team.
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