HK regulator warns over high concentration in shares of Jujiang Construction Group

Jujiang Construction

04/02/2016 09:02

HONG KONG, Feb 4 (Reuters) - The Hong Kong securities 
regulator warned on Thursday over a high concentration of 
shareholders in Jujiang Construction Group  1459.HK . 
    The Securities and Futures Commission (SFC) said that an 
enquiry into the company's shareholdings suggested that 20 
shareholders held an aggregate 87 percent of the company's 
issued Hong Kong shares, as of Jan. 25. 
    The company was listed on the main board of the Hong Kong 
Stock Exchange on Jan. 12, the SFC said.  
    A high concentration of shareholdings can cause volatility 
in a company's share price.  
    From Jan. 13 to Jan. 25, 2016, the closing price of the 
company's Hong Kong shares increased  388 percent on the offer 
price of HK$1.35, the SFC said.  
 
 (Reporting by Michelle Price; Editing by Tom Hogue) 
 ((michelle.price@thomsonreuters.com; +85228472095; Twitter: 
@michelleprice36;)) 
 
Keywords: HONGKONG JUJIANG CONSTR/