Chinese Cement Maker Halted After 99% Crash in 15 Minutes
- Tianrui Group’s market value plunged to HK$141 million
- Controlling shareholder and spouse jointly own 70% of firm
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A Chinese cement producer was in the spotlight after it suspended stock trading Wednesday, following a selloff that nearly wiped out all its market value in the final 15 minutes of the previous session.
China Tianrui Group Cement Co. said trading in its Hong Kong-listed shares has been halted from 9 a.m. local time, pending an announcement related to inside information, according to an exchange filing.