At 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.
To 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 internet company. 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
the commission for public listing or normal listing channels and the waiting time was too long, it would rather buy another listed company to enable it to reach the target of being listed although it would be
could be regarded as one of Oskia's famous internet companies. 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
shareholders were guessing
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 upper management would know the details,
people only then realized that actually, it was 360 who wanted to borrow its cover to
had been suspended. There was no trading, and even the chance
Group's situation was also the
take over. This was good news for the company. Thus, an
6
***
10.55 am, at Moore
invited journalists were already
investors also paid attention to this press conference.
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