Friday, October 18, 2013

SGX remove trading curbs on Blumont Group, Asiasons Capital and LionGold Corp

Singapore Exchange lifts trading curbs on three interlinked stocks : REUTERS

The Singapore Exchange said it has removed trading curbs on the
shares of Blumont Group, Asiasons Capital and LionGold Corp - interlinked companies whose share prices fell steeply this month. 

SGX suspended trading in the three stocks on Oct 4. after a drop in their prices and then declared them "designated securities."

For such securities, traders cannot short-sell them and must pay for any purchases with cash up front.

In a statement late on Friday, SGX said it will continue to monitor the trading of all three stocks.

The trading curbs will be lifted effective Monday.

The exchange has faced criticism over complaints that it stepped in late to tame price swings in the three companies.

Blumont lost nearly $5 billion in market value after a steep rise earlier this year.
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