China Huarong shares set to fall 40% in resumed trade after 9-month halt

The logo of China Huarong Asset Management Co is seen at its office in Beijing, China, April 16, 2021. REUTERS/Thomas Peter

HONG KONG, Jan 5 (Reuters) – Shares of China Huarong Asset Management Co Ltd (2799.HK) are set to fall 40% as the stock resumes trading on Wednesday after a nine-month suspension.

The stock, which has been suspended since April 1, 2021, is set to open at HK$0.61 each, the lowest since its debut in October 2015. That compares with a 0.15% rise in the benchmark Hang Seng Index (.HSI).

The company said it applied to resume trading as resumption guidance had been fulfilled, including disclosure of all material information on its business, financial performance and operation in its results.

Reporting by Donny Kwok; Editing by Jacqueline Wong

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