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SFC fines Huatai HK$800k for accidentally short-selling bonus shares of Great Wall Motor (2333)
SFC, 17-Sep-2018
Ironically, the SFC makes the same mistake as Huatai made when dealing. The SFC news says: "On 30 September 2015, when the bonus shares started trading on an ex-rights basis…". But the bonus shares didn't start trading until 14-Oct, that's the whole point. The existing shares began trading ex-bonus on 30-Sep. Let this be a reminder that when a company declares a bonus issue, it effectively delists a portion of its shares from the ex-date until the bonus shares are issued.



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