Asian Citrus squeezed again
Shares in Chinese orange plantations owner Asian Citrus Holdings were squeezed again on Monday after it emerged last Friday that an investment vehicle controlled by executive directors had cut its stake in the company.
Shares in Chinese orange plantations owner Asian Citrus Holdings were squeezed again on Monday after it emerged last Friday that an investment vehicle controlled by executive directors had cut its stake in the company.
Market Ahead Investments sold 50m Asian Citrus shares in an off-exchange transaction at an average price of HK$4.34, roughly equivalent to 35.12p, on November 5th.
Market Ahead Investments is majority owned by Asian Citrus's Chairman, Tong Wang Chow, who has a 76% stake, but Asian Citrus executive director Tong Hung Wai, known as "Tommy", also holds a 6% stake.
Try 6 free issues of MoneyWeek today
Get unparalleled financial insight, analysis and expert opinion you can profit from.
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
The sale reduced Market Ahead Investments' stake in Asian Citrus to 18.46%.
After taking a dive on Friday on the news shares in the firm hit a 52-week low on Monday.
JH
-
What do rising oil prices mean for you?As conflict in the Middle East sparks an increase in the price of oil, will you see petrol and energy bills go up?
-
Rachel Reeves's Spring Statement – live analysis and commentaryChancellor Rachel Reeves will deliver her Spring Statement on 3 March. What can we expect in the speech?
