Case of insider trade settled
March 11, 2013 Category Stock Markets, Weekly
Hong Kong’s Market Misconduct Tribunal has found Sun Min guilty of insider trading in the shares of China Huiyuan Juice Group in connection with Coca-Cola’s failed bid to acquire the Hong Kong-listed firm. Coca-Cola had attempted to acquire Huiyuan, but in March 2009 the Ministry of Commerce (MOFCOM) rejected the acquisition on the grounds that the U.S. soft drink maker would dominate the mainland market. The tribunal found Sun Min guilty of insider dealing of 3.13 million Huiyuan shares in August 2008.
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