In this article
SFC obtains court order to wind up China Metal Recycling (0773)
SFC, 26-Feb-2015
...and there goes HK$11.09bn of market capitalisation - it will be interesting to see how much of the last reported net assets of $7.10bn (30-Jun-2012) the liquidators are able to find. It's fairly safe to say that the sponsors, UBS and China Merchant Securities, are going to face an investigation by the SFC.
Organisations
- CHINA MERCHANTS SECURITIES (HK) CO., LIMITED 招商證券(香港)有限公司
- China Metal Recycling (Holdings) Limited 中國金屬再生資源(控股)有限公司
- UBS AG
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