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SFC, 6-Dec-2018
After Great Wall Motor (2333) went ex a 2:1 bonus issue, SFM accidentally sold its bonus shares before they were issued. This is another reminder that bonus issues in effect temporarily delist part of the company, in this case, 2/3, because only the pre-bonus shares are tradeable between the ex-date and the delivery date. In September, the SFC fined Huatai Financial Holdings Ltd HK$800k for doing the same thing on the same bonus issue.
Organisations
- GREAT WALL MOTOR COMPANY LIMITED (CN) 長城汽車股份有限公司
- HUATAI FINANCIAL HOLDINGS (HONG KONG) LIMITED 華泰金融控股(香港)有限公司
- SFM HK Management Limited 索羅斯基金管理(香港)有限公司
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