Rising Development (1004): Chairman sells 147.896m shares at $0.533?

Comment: that's 9.95% of the company, at a 91% discount to yesterday's closing price of $5.93. In our view, this stock is in a bubble. It will split 4:1 on 19-Dec-2014. At 26-Sep-2014 it was 6.27% owned by Freeman Corp Ltd, a partial subsidiary of Freeman Financial (0279). Yesterday's price values the holding at $553m. Update: we see that 147.9m shares have crossed the exchange at $5.33, not $0.533, and the stock was suspended at 13:02.

Organisations

Arta TechFin Corporation Limited 裕承科金有限公司
China Smarter Energy Group Holdings Limited 中國智慧能源集團控股有限公司
Freeman Corporation Limited (KY)

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Lai, Leong 黎亮

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