Deals
Lumena Falls 28% in Hong Kong as Acquisition Deal Pulled
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China Lumena New Materials Corp., which produces the minerals thenardite and glauberite, fell the most in Hong Kong trading since its debut, as the company canceled an acquisition agreement signed last year.
The shares dropped 28 percent, the biggest decline since the June 2009 IPO, making the stock the worst performer in the Hang Seng Composite Index. A total of 265 million shares changed hands, twice the stock’s three-month daily average.