a direction to the Stock Exchange of Hong Kong to suspend trading in the shares of Hontex. • This is pretty rate. It was only the third such order given by SFC in six years. (via The Standard) • Hontex has a pretty good earning performance but a low PE ratio.
false or misleading information in its prospectus dated 14 December 2009, which was likely to have induced investors to subscribe for the Hontex shares. The SFC alleges that Hontex’s financial position as outlined in its IPO prospectus has been materially overstated.
Instance has jurisdiction to determine whether a person has contravened the provisions of the SFO? • Arises because of the Hon Mr. Justice Harris’ decision in the case against Tiger Asia Management LLC. • SFC has also sought leave to appeal but Hon Mr. Justice Harris refused to grant such leave in this case. The SFC will seek leave from the Court of Appeal.