Finance: Exchange probes CAMC trading
(Shanghai Daily)
Updated: 2006-06-26 17:00
The Shenzhen Stock Exchange has started an investigation into trading in
shares of China CAMC Engineering Co., the first company to be listed after a
yearlong ban on new share sales was ended on the mainland, Bloomberg reported
today, citing an unidentified exchange official.
The exchange formed a special team on June 21 to monitor trading in the
farming machinery manufacturer, said the Shanghai Securities News, a publication
affiliated with the official Xinhua news agency. The probe involved 606 branches
of securities companies and 4,934 trading accounts, it said.
CAMC's price on its first day of trading was abnormal and irrational, the
newspaper cited the exchange official as saying. The Shenzhen exchange will
continue to strengthen supervision of corporate disclosure and real-time
monitoring, the newspaper said.
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