CHINA: BlueFocus has suspended the trading of its shares, ahead of the issuing of more shares for a potential asset purchase.
The company confirmed to PRWeek Asia trading on the Shenzhen Stock Exchange had halted on Wednesday, but declined to provide any more information at this time.
A statement published in China stated: "In order to ensure fair information disclosure, to maintain the interests of investors , to avoid abnormal stock price volatility, and according to the relevant provisions of the Shenzhen Stock Exchange Listing Rules...the company's stock...is suspended until the matter is determined. The company will... apply for shares to resume trading as quickly as possible."
BlueFocus was established in 1996 in Beijing, and BlueFocus Comunications Group was established in 2008. It was listed on the Shenzhen Stock Exchange/Growth Enterprise Market in 2010.