NovelEnglishAt 10.55 am in the morning.
Suddenly, Moore Group had a stock suspension.
The stock suspension signified the temporary halt of trading.
From this moment, the shares of Moore Group were sealed. There was no rise and fall until trading resumed.
Follow on NovᴇlEnglish.nᴇtTo apply for a stock suspension from the commission required a very strong reason. For Moore Group, the reason for the stock suspension was because the group had a huge announcement to make. 5 Generally, stock suspensions happened before a listed group made an important announcement. This was to prevent insider trading and stop the informed from being opportunistic.
For example, in the past, Amazing Tiger 360 used to be a very famous intecompany. 5 They sought to be listed in Oskia and were able to be listed in the local A-shares albeit via the backdoor. This was the so-called backdoor listing. 3 To put it plainly, when a company could not fulfill certain requirements set by the commission for public listing or normal listing channels and the waiting twas too long, it would rather buy another listed company to enable it to reach the target of being listed although it would be through the backdoor.
360 could be regarded as one of Oskia's famous intecompanies. The reason for choosing a backdoor listing was mainly because it saved a lot of time. If they were to independently list themselves, they would need at least one to two years, which would most likely cause them to miss out on many good market opportunities. Initially, when 360 decided on a backdoor listing, all the shareholders were guessing on one thing-which listed company would 360 acquire to be listed.
If they could know the targeted backdoor company beforehand, they would be able to buy that company's shares earlier. Then, when 360 successfully managed to be listed, they would earn a lot of money when the share price went up.
However, this type of news was normally highly confidential within the company. Only the upper management would know the details, and it was highly unlikely for them to leak out the news.
Hence, when SJEC suddenly announced that the company needed to conduct a stock suspension due to important matters, people only then realized that actually, it was 360 who wanted to borrow its cover to be listed. 3 However, it was too late by then because SJEC's shares had been suspended. There was no trading, and even the chance to do bottom fishing was gone.
Moore Group's situation was also the same.
The company would transform from a leaderless group to one where a new chairperson would take over. This was good news for the company. Thus, an announcement was needed after the stock suspension.
6 *** At 10.55 am, at Moore Group's conference hall.
The invited journalists were already on the alert there.
Follow on Novᴇl-Onlinᴇ.cᴏmThe entire country's investors also paid attention to this press conference. 1
This was because ever since Jasmine had met an accident until now, the shares of Moore Group had En not been performing well. The market was worried that a leaderless Moore Group would be panicked and confused, which caused the share prices of Moore Group to plunge continuously.
Now, Moore Group suddenly wanted to hold a press conference with great fanfare, Many people felt that they must be ready to nominate a new chairperson. Meanwhile, Charlie had just arrived at the entrance of the conference hall alone.
Once Reuben knew that Charlie was coming, he cearly to wait for him at the entrance Despite feeling extremely displeased with Charlie, Reuben dared not upset Charlie, because this was Aurous Hill. X
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