West China Cement Ltd. tumbled by a record in Hong Kong in late trading amid speculation a planned acquisition by Anhui Conch Cement Ltd. will run into difficulty.
West China Cement dropped as much as 46 percent before paring its decline to 33 percent at the close, the most since the shares first traded in August 2010 and wiping out HK$2.8 billion ($363 million) of value. Volume was more than 11 times higher than average. The stock was little changed for most of the day before it start to tumble after 3:10 p.m.
Planetree (0613): breach of Listing Rules: undisclosed loans to South Shore
(ex-0577) and Charles Chan Kwok Keung
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Mr Chan paid interest at 18% p.a. quarterly (19.25% APR) for the loans
totalling HK$26m granted to him in June 2021.
Source: Company announcement | Source d...
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