Shares in online precious metal trader Trasy Gold Ex yesterday soared to 11.3 times their June 2003 price, when the stock returned to the market from a four-year suspension after a change of controlling shareholder. The Growth Enterprise Market company closed at 14.7 HK cents after hitting a high of 31 HK cents and a low of 10 HK cents. About 563.5 million shares worth HK$88 million changed hands. The trading resumption means that the Hong Kong Exchanges and Clearing was satisfied with the company's latest operating performance, financial health, corporate governance and internal controls following a change of controlling shareholder in 2005. Trasy Gold has since been owned 56.45 per cent by ITC Corp, ultimately held by stock investor Charles Chan Kwok-keung. Former shareholder RNA Holdings was delisted amid debts and fraud charges against former RNA chairman Raymond Chan Fat-chu and his brother, deputy chairman Alexander Chan Fat-leung. Raymond Chan and Alexander Chan, who are not related to Mr Charles Chan, were convicted of defrauding RNA in a HK$100 million investment scam and sent to jail in January. Mr Charles Chan, who holds substantial interests in a number of listed companies such as ITC, Wing On Travel (Holdings), Hanny Holdings and China Strategic Holdings, is not a director of Trasy Gold. Fulbright Securities general manager Francis Lun Sheung-nim said speculators jumped at Trasy Gold because they believed in Mr Charles Chan's 'Midas touch'. Trasy Gold returned to a net profit of HK$145,000 in the first quarter of this year from a net loss of HK$1.33 million a year earlier. As of the end of last year, it was debt free with net current assets of HK$48 million. Trasy Gold chairman Francis Chang Chu-fai said in a statement the firm's existing financial position could sufficiently meet its funding requirements in the foreseeable future. He added that there was a plan to expand the operations of its internet-based trading platform for precious metals such as gold and silver by aligning with international and local institutional traders.