Chinese developer Neoglory Prosperity plummets after trade resumes

China High Speed Transmission Equipment

01/11/2018 03:31

** Shares in Chinese developer Neoglory Prosperity Inc
 002147.SZ  dive by its daily limit of 10 pct, after the
company's stock resumes trading
    ** Stock down after it says it terminates plan to acquire
stake in China High Speed Transmission Equipment Group
 0658.HK ; set for worst day since February 2016 
   ** Co announces a plan to buy 51-74 pct stake in China High
Speed Transmission Equipment Group in July  urn:newsml:reuters.com:*:nL4N1TX077
   ** Co says its controlling shareholder is unable to pay bonds
on time and there is a risk that the restructuring of the
company may be suspended if it fails to eliminate the impact of
the matter on Sept. 26 and Oct. 9, respectively  
    ** Stock has been suspended since Jan. 18 pending
announcement of its asset restructuring plan  urn:newsml:reuters.com:*:nL3N1PD0ML
    ** China's blue-chip index  .CSI300  rises around 2 pct
   

 ((Reuters Messaging:
tingting.liu.thomsonreuters.com@reuters.net))