Shares of building construction company Sun Fook Kong rose 12.9 per cent on news its majority shareholder, the Lo family, was negotiating to sell its entire 51.6 per cent stake to a China-backed company. The counter jumped as high as $1.37 but later closed at $1.14, up 13 cents. The Lo family controls Great Eagle Holdings, Paliburg Holdings and Shui On Holdings. Lippo Securities sales manager Steve Cheng said investors were still keen to find companies being used by mainland operations to enter the local market via a back-door listing. 'Just like Guangdong Investment's takeover bid on [electronic consumer goods maker] Prod-Art Technology, investors are speculating on the future prospect of Sun Fook Kong,' Mr Cheng said yesterday. Sassoon Securities senior manager Simon Tam Shui-ming said Hong Kong companies with unsatisfactory performance were prey for mainland companies looking to gain a foothold in the local market.