Country Garden Holdings Co. led by the richest woman in China Yang Huiyan had suspended share trading today after the Hong Kong Economic Journal revealed that the company had disclosed insider trading information through a staff memo, said a Bloomberg report.
According to a statement to the stock exchange from the Guangdong based developer, the shares were stopped from trading on the Hong Kong Stock Exchange at 9 a.m. until the release of a clarification declaration. This was in relative to likely insider trading information revealed. The stock increased 1.6% to HKD5.14 yesterday which was also its highest since September 11.
Today, the Hong Kong Economic Journal reported, while citing a memo to staff from President Mo Bin, that the Country Garden received buyer subscriptions for CNY109.5 billion of properties so far this year. It was also cited in the same report that subscriptions had reached CNY18.5 billion over the seven-day National Day public holiday that started last October 1 and ended yesterday, said a Bloomberg report.
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