Sichuan Changhong Shares Rises After Employees Buy Stock
Sichuan Changhong Electric Co. rose the most in three months in Shanghai after some of the company’s executives and employees bought shares.
The stock jumped 3.4 percent to 2.71 yuan as of 10:32 a.m. local time, the biggest intraday advance since Aug. 1.
The executives and other employees bought 25.8 million shares, or 0.56 percent of the company’s equity, from Oct. 28 to Oct. 31 and plans to buy as much as 5 percent over the next three years, according to a statement from the Chinese appliance maker to Shanghai’s stock exchange yesterday after market closed.
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