Shares of ENM Holdings rose as much as 119.35 per cent yesterday after news reports said that major shareholder Nina Wang Kung Yu-sum planned to inject property company Chinachem Group's assets into the firm. The stock eventually closed the day 93.54 per cent up at 90 cents on a high turnover of $263.19 million, despite the company saying it had not received any proposals of asset injections from Mrs Wang. In an announcement filed with the stock exchange, ENM said it had noted the recent increases in the price and the trading volume of its shares but it was unaware of any reason for such rises. ENM also confirmed that there were no talks or agreements relating to intended acquisitions or realisations which needed to be disclosed under listing rules. The price of ENM's shares has soared 227.27 per cent in the past year. Yesterday, several newspapers reported that Mrs Wang planned to inject Chinachem assets worth a possible $40 billion into ENM. Mrs Wang, ranked Asia's wealthiest woman by Forbes magazine last year, holds 34.6 per cent of ENM. Chinachem, one of the biggest property developers in Hong Kong, mainly engages in land investment and property development, including residential, commercial and industrial properties, shopping centres, car parks and hotels. It is also involved in finance, insurance, entertainment, information technology and retailing. Last year, Mrs Wang gained control of Chinachem following a lengthy court battle with her father-in-law Wang Din-shin.