STOCKS | Pujiang China Falls 28.9% After SFC Shareholding Inquiry

Pujiang China (01417) fell 28.9% to HK$4.77, extending its losing streak to two sessions and bringing the cumulative decline to 36.2%, according to ETNet. The company said the SFC recently conducted an inquiry into its shareholding distribution. The inquiry found that as of Aug. 14, 20 shareholders held about 62.422 million shares, or 15.41% of the issued share capital. It also found that about 11.7 million shares, or 2.89% of issued capital, were registered in the name of HKSCC Nominees Ltd. in the Hong Kong share register but were not deposited in the Central Clearing and Settlement System. Together with about 300 million shares held by two major shareholders, or 74.12% of issued capital, that represented 92.42% of the company's issued share capital. Pujiang China later said that, based on available information and after making all reasonable enquiries, the board confirmed that at least 25% of its issued shares are currently held by the public and that it has maintained sufficient public float under listing rules.