Chinese billionaire sells $41M worth of CHS stock

Chinese investor Tianqiao Chen and his group of companies have an 18.8 percent stake in Franklin, Tenn.-based Community Health Systems after recently selling 5 million shares of the company, according to a Securities and Exchange Commission filing.

Mr. Chen and his Shanda Group company affiliates sold the shares Nov. 10-12 for between $8.01 and $10.02 per share, bringing in a total of $41.46 million.

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. 

CHS shares closed Nov. 17 at $8.37 per share, up from $7.79 a day earlier. 

More articles on healthcare finance:
12 hospitals have closed during the COVID-19 pandemic
CommonSpirit posts $800M net income in Q1
Thousands of medical practices close under stress from pandemic

Copyright © 2024 Becker's Healthcare. All Rights Reserved. Privacy Policy. Cookie Policy. Linking and Reprinting Policy.


Featured Whitepapers

Featured Webinars