October 21, 2018 / 1:02 PM / a month ago

Greenland HK says investor criticism was "misleading and unfair"

HONG KONG, Oct 21 (Reuters) - Greenland Hong Kong described investor statements that prompted a share price slide on Friday as “inaccurate, groundless, misleading and unfair”.

The company was among more than 15 Hong Kong-listed stocks that fell on Friday after investor David Webb described on his website a complex network of shareholding and lending links surrounding China Huarong Asset Management and China Minsheng Bank in a post titled “The Huarong-CMB network: 26 stocks not to own”.

Webb made no allegations about the relationships and told Reuters he has no financial interest in any of the companies in the network.

Greenland Hong Kong’s share price fell as much as 5.9 percent on Friday, closing 3.7 percent down.

In a Sunday filing the Chinese company, a unit of state-backed property developer of Greenland Holdings , said “it is inaccurate, misleading and unfair” to suggest the stock is one that should not be held, citing substantial growth and expansion in what it described as other profitable business segments.

It added that none of the company’s directors or senior management were approached by Webb, who is known as an expert in corporate governance, to address or clarify statements published in his report. (Reporting by Clare Jim Editing by David Goodman)

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