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
normal listing channels and the waiting time was too long, it would rather
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
listing, all the shareholders were guessing on one thing-which listed company would 360 acquire to
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
within the company. Only the upper management would know the details, and it was highly unlikely for them to leak out
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
shares had been suspended. There was no trading, and even
Group's situation was
group to one where a new chairperson would take over. This was good news for the company. Thus, an announcement
6
***
am, at
were already on the alert
also paid attention to
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