Source: CCTV.com
05-13-2008 11:17
The Securities Watchdog says it will crack down on the illegal sale of previously non-tradable equities held by big investors.
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| The Securities Watchdog says it will crack down on the illegal sale of previously non-tradable equities held by big investors. |
The securities regulator said in April that any sale of non-tradable shares accounting for more than one percent of a firm's total stocks will have to go through a separate trading system. But since then, there have been 3 cases of such irregular transactions. Authorities are now warning of strict punishment for guilty enterprises and individuals.
The move last month aimed to counter the pressure to sell on the public market and help ease investor concerns over the impact of share disposals on stock prices.
Editor:Du Xiaodan
