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China Business News Rumor: HK Funds To Dump Skyworth Stocks
Tags: BOC International-PPM, JP Morgan, Skyworth,
China Business News is reporting a rumor that Hong Kong funds will dump Skyworth Digital (0751.HK) shares after the company's stock resumes trading. However, it is still unknown when Skyworth Digital stocks will resume trading. According to the China Business News report, the Hong Kong stock market expects Skyworth stock price to drop 60 percent to the value of its net assets per share. In the report, there are rumors that JP Morgan and three funds managed by BOC International-PPM will dump Skyworth Digital stocks. JP Morgan plans to sell Skyworth Digital shares at a 50 to 100 percent discount. The three funds have also decided to sell at 80 to 100 percent discounts. JP Morgan has 11.83 percent of Skyworth Digital's total equity.
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