BOC have been gradually selling shares but still hold over 182 Million shares in NAS and the group companies, although the values have plummeted since the bail out in May.
Selling these 39 Million shares would have generated $18M in May, now just $2M.
On a positive side, it does free up more shares for investment, although it looks like a fire sale by the leasing companies is taking place before the next stage of the examinership, which if rejected renders the shares worthless.