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Commission crackdown three new board violations do in Haiyang City, is leading the investigation

Number of visits: Date:2015-05-12
      Following the share transfer system announced nationwide crack down on all kinds of illegal trade practices, the Commission also say the new board will conduct a serious investigation of illegal cases, three new board company in Hai Duong became the first star was the SFC investigation of listed companies. Whether the event will make the Haiyang overshadowed set by the company did not respond aspect.
      Commission on May 8, said of the new board's investigation of illegal activities will be the next focus of the work, the SFC 2015 French Open second batch of special enforcement action in cases of locking three new board market, involving a total of three new board market 10 related cases, mainly for five illegal behavior: First, the information disclosure of listed companies of illegal behavior; the second is the securities service institution fails to conduct due diligence; the third is the abuse of trade rules disrupt the market order behavior; Fourth, insider trading, market manipulation; Fifth violation behavior of investors appropriate management system.
 
Haiyang night announcement that the company received the Commission's notice of investigation, due to unusual trading company stock, the Commission decided to carry out its investigation.
 
Some respondents brokerage analysts believe, was investigating the cause of Haiyang from disclosures of illegal activities in conjunction with the Commission set out in view of the foregoing, in Haiyang more companies or agencies may be the presence of abuse trading rules undermined the market order, market manipulation and other behavior leads to violations of law was a criminal investigation.
 
Since entering in April, the share price does Haiyang out like a roller coaster unusual trend. April 7, in Haiyang transaction announcement said the disclosure, April 3 Japan Haiyang average stock price of 14.62 yuan / share traded 888.46 million shares. Abnormal fluctuations in stock as follows: make a market transfer mode, the transfer of shares three consecutive daily trading total more than 50%.
 
Public information, April 1 to April 3, Haiyang share price from 9.68 yuan rose to 14.93 yuan, the cumulative increase to 54%. However, from the beginning of April 4, in Haiyang stock all the way down, as of May 11 closing, the stock price has dropped back Haiyang 8.97 yuan.
 
One detail that on April 2, the controlling shareholder, actual controller during abnormal fluctuations in the stock transfer 48 million shares. However, did not disclose terms of the price Haiyang actual control transfer of shares.
 
Haiyang filing by the industry is quite concerned about one thing, which in March had just thrown a given increase will therefore cast a shadow. According to previous plan, the proposed price of 5.6 yuan Haiyang / share issue not more than 7300 million shares, raising not more than 408.8 million yuan, used to supplement working capital. Unlisted public companies Supervision Department administrative license application review basic information and schedule queries disclosure of the official website of the Commission, in Haiyang set by the application was April 29 formally accepted, May 7 received first feedback comments.
 
For this to be put on record, in terms of Haiyang no response. But respondents brokerage, told reporters that in accordance with the relevant regulatory requirements of listed companies, if there investigation, refinancing inevitable pause blocked, but because in Haiyang is the first to be filed three new board company, the SFC how to deal with the industry is quite concerned .
 
According to sources close to the regulators Shangzheng Bao further explained to reporters, the current three new board listed company regulatory, supervisory duties on the parties to make a division of their duties by the executive regulatory bodies and self-regulatory organizations. If they are share transfer system supervision, are self-regulatory level, does not require the disclosure of information in the three new board company must disclose; if they are the Commission to initiate, it belongs to the level of administrative penalties in the disclosure requirements in the relevant Commission received Letter Day announcement.
 
It is noteworthy that in this installment of the Commission to initiate 10 new board company in Hai Duong currently only been disclosed.

TypeInfo: Industry dynamic

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