(Bloomberg) — A Chinese cement producer was in the spotlight after it suspended stock trading Wednesday, following a selloff that nearly wiped out all its market value in the final 15 minutes of the previous session.
China Tianrui Group Cement Co. said trading in its Hong Kong-listed shares has been halted from 9 a.m. local time, pending an announcement related to inside information, according to an exchange filing.
Based in the central Henan province, Tianrui’s stock plunged 99% to about HK$0.05 Tuesday, cutting its market capitalization to HK$141 million ($18 million). During the selloff, about 281 million shares, or a third of the firm’s free float, changed hands. Of that amount, more than 80 million shares were traded during the final few minutes of the session known as the closing auction.
finance.yahoo.com/news/chinese-cement-maker-halts-trading-041141586.html