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SFC directs suspension of China DYF (0612)
This follows a complaint by Webb-site to the SFC on 18-Feb-2019 and a Bloomberg article on 22-Feb-2019. This is a "Chapter 21" closed-end investment fund, trading at about 86x NAV. Such companies are exempt from the public float requirement of the Listing Rules, and the SFC has not issued any concentration warning on this stock. Consequently it has been admitted into various HSI and MSCI indices, exacerbating the bubble. It was due to enter the HSI Large and Mid-Cap Index at the close of business today.
- China Ding Yi Feng Holdings Limited (KY)
- HSI SERVICES LIMITED
- MSCI HONG KONG LIMITED
- SECURITIES AND FUTURES COMMISSION