Greentown China hits 21-month low after ICAC searches Hong Kong office
BUZZ-Greentown China hits 21-month low after ICAC searches Hong Kong office ** Shares of Greentown China Holdings 3900.HK drop 6.8% to HK$6.73, their lowest level since September 2024
** Stock set for the biggest one-day pct decline since April 2025; on track for fifth consecutive session of losses
** Chinese property developer said Hong Kong's Independent Commission Against Corruption (ICAC) visited the company's office in Hong Kong on June 17 to execute search warrant
** Says the search is in relation to a corruption allegation against an individual who is a former director of the company and is not a current employee of the group
** The company says it has provided the necessary assistance in relation to the matter and business operations and day-to-day activities remain normal
** YTD, stock down 18.5%, benchmark Hang Seng Index .HSI down 7.6%
(Reporting by Donny Kwok)
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