AKuP case leaves unanswered questions
Questions have been raised over the speed of the stock exchange's suspension of AKuP International Holding as it emerged the regulator may have suspected for weeks that the Growth Enterprise Market-listed company was devoid of management.
The exchange yesterday declined to say how long it had been unable to get in touch with the company. Trading in AKuP shares was suspended on Thursday.
Asked to give details of when the exchange was first unable to contact AKuP, a spokeswoman said: 'We are not telling the exact time but [the decision to suspend the stock] is in the normal course of the exchange's action.'
Reporters who visited the company's offices in Wan Chai on Thursday found a stack of unopened mail at the entrance dating back to January 15.
Turnover in AKuP shares hit a high on Wednesday, and the next day the stock was suspended by the exchange after it said it had been unable to contact management over the unusual price movement.
