HK's Zhaobangji Properties dives after disclosure on shareholdings

Seven Elements Investment Holdings

12/10/2018 07:16

** Shares in Hong Kong's Zhaobangji Properties Holdings Ltd
 1660.HK  dive as much as 62.8 pct to HK$4.2, lowest since March
29, after it discloses to the stock exchange it has a high
concentration of shareholding in a small number of shareholders
    ** The stock of the co, engaged in trading of machinery and
parts and transportation services, trims losses to HK$10.8,
still down 4.4 pct and heading for the worst day since Aug. 14
    ** The Securities and Futures Commission publishes an
announcement on Oct. 11 showing that 19 shareholders hold 424.3
mln shares (34.24 pct), which represents 90.78 pct of issued
shares as at Sept. 26 together with deemed interests in 700.5
mln shares (56.5 pct stake) held by the chairman. Therefore,
other shareholders only hold 114.2 mln shares (9.22 pct stake)
in the company (http://bit.ly/2Om1iaH)
    ** Hong Kong's benchmark index  .HSI  gains 1.6 pct 

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