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Feb

23

Hong Kong Halts Stock’s 543% Debut in Volatile Equity Market

By Tony Seruga

More than 20 million shares changed hands in morning session
City’s second exchange under scrutiny over manipulation fears

Hong Kong traders are used to seeing strange things on the city’s small-cap exchange, home to some of the world’s biggest price swings. But the initial public offering of GME Group Holdings Ltd. on Wednesday had even hardened market watchers scratching their heads.

Shares of the tunnel excavating subcontractor rose 543 percent before they were suspended from 1 p.m. local time by the Securities and Futures Commission. The stock was trading for the first time on the city’s Growth Enterprise Market…

Hong Kong Halts Stock’s 543% Debut in Volatile Equity Market

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