Jan
21
Company Chairman, Wife Cut Stake as Hong Kong Stock Plunged 89%
By-
Jiayuan previously said it had no information to disclose
- Developer led a tumble by shares in the city last week
The chairman of a Hong Kong-listed property developer and his wife cut their stake just as the stock plunged 89 percent.
Shum Tin Ching and his wife Wang Xinmei sold 93.6 million shares of Jiayuan International Group Ltd. on Jan. 17 at an average of HK$2.7611 apiece — about a 79 percent discount from the previous day’s close — according to a Hong Kong exchange filing. That reduced their shareholding to 53.92 percent from 57.65 percent. Their trades made up about a quarter of the entire volume in the stock for that day, according to data compiled by Bloomberg…
Company Chairman, Wife Cut Stake as Hong Kong Stock Plunged 89%
