Singapore Reviews Blumont, Asiasons, LionGold After Slump
This article is for subscribers only.
The Monetary Authority of Singapore is reviewing the trading of Blumont Group Ltd., Asiasons Capital Ltd. and LionGold Corp. shares after a three-day slump of at least 87 percent wiped out $6.9 billion in market value.
Singapore Exchange Ltd. or SGX classified the shares as designated securities after they lost as much as 42 percent on Oct. 4, a fall that triggered the three-day drop. The trading limit, which prohibited investors from selling them unless they hold the same quantity of shares, was lifted on Oct. 18.