May 8, 2017 / 1:51 AM / 4 months ago

Regulator orders trading halt in China Huishan Dairy shares

HONG KONG, May 8 (Reuters) - Hong Kong’s securities regulator ordered a trading halt in shares of China Huishan Dairy Holding Co Ltd, indefinitely extending a suspension that’s been in effect for more than a month as concerns grow about the company’s finances.

The move by the Securities and Futures Commission (SFC) follows a warning by China’s largest integrated dairy firm last month that it was unable to operate because most of its board had quit.

Trade in Huishan’s stock has been suspended since March 24 at the company’s request, when it plunged 85 percent on concerns about its finances.

Huishan and the SFC did not immediately reply to Reuters requests for comment.

The SFC made a similar order for a trading halt of Hanergy Thin Film Power Group in 2015 as it investigated the solar panel maker after its shares mysteriously tumbled 50 percent in a matter of minutes. Trade remains suspended, although its parent company has paid down overdue debt in a bid to resume trading. (Reporting by Elzio Barreto; Additional reporting by Donny Kwok; Editing by Edwina Gibbs)

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