Hong Kong listed DFY plunges 93% on trading resumption after jumping 3,500% (updated)

Carmen Century Investment

23/01/2020 02:21

(Changes projected fall to actual, adds withdrawal of judicial
review)
    HONG KONG, Jan 23 (Reuters) - Shares of China Ding Yi Feng
 0612.HK  tumbled as much as 93% to HK$1.60 on Thursday, their
first day of trading after a 10-month suspension at the
direction of Hong Kong's markets watchdog.
    The Securities and Futures Commission (SFC) said on
Wednesday it would begin proceedings against one or more
officers of Ding Yi Feng for suspected market manipulation.
 urn:newsml:reuters.com:*:nL4N29R2LK
    Ding Yi Feng, an investment holdings company, said in an
exchange filing early on Thursday that it would withdraw its
judicial review against the SFC. The company had sought to
overturn the suspension of trading. 
    The company's shares rose by as much as 3,500% in the 18
months from the start of 2017. 
    
    

 (Reporting by Hong Kong newsroom; Editing by Kim Coghill)