HONG KONG (Reuters) – Shares of China’s Shimao Group went down 15% to HK$ 0.73 on Monday, their cheapest considering thatSept 26, after the home programmer got a liquidation application.
Shimao stated on Friday CPYM Link Investment had actually submitted a liquidation application versus the firm in the Hong Kong high court concerning a 258 million yuan ($ 35.2 million) cross-border funding assurance offered by the home programmer.
($ 1 = 7.3308 yuan)
(Reporting by Hong Kong newsroom; Editing by Tom Hogue)
