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China Huarong shares set to fall 40% in resumed trade after 9-month halt -Breaking

by Mike Robinson

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© Reuters. FILE PHOTO – The logo for China Huarong Asset Management Co can be seen in its Beijing office, China on April 16, 2021. REUTERS/Thomas Peter

HONG KONG, (Reuters) – Shares in China Huarong Asset Management Co Ltd will fall 40% when trading resumes on Wednesday following a nine month suspension.

Stock has been frozen since April 1, 2021. The stock will open for trading at HK$0.61 each. This is the lowest opening price since Oct 2015. The benchmark saw a rise of 0.15%.

According to the company, it had applied for resume trading after resumption guidance was fulfilled. This included disclosure of material information about its operations, business and financial performance, as well as its financial results.

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