SFC orders trading halt for ChaPanda operator Sichuan Baicha Baidao
Hong Kong's Securities and Futures Commission has ordered a suspension of trading in shares of Sichuan Baicha Baidao Industrial, operator of the ChaPanda tea chain, effective from 9 am on Tuesday. The halt was directed under Rule 8(1) of the Securities and Futures (Stock Market Listing) Rules, with
Hong Kong's securities regulator has ordered a trading halt in the shares of Sichuan Baicha Baidao Industrial (2555), the operator of the ChaPanda fruit and milk tea chain, an exchange filing showed.
The Securities and Futures Commission (SFC) directed the Stock Exchange of Hong Kong to suspend all dealings in the company's shares from 9 am on Tuesday, according to the filing. The order was issued under Rule 8(1) of the Securities and Futures (Stock Market Listing) Rules.
Before the suspension, the company's share price stood at HK$4.04.
The SFC did not provide a reason for the suspension in the filing. The regulator has the power to order trading halts under the listing rules when it considers it necessary in the interests of an orderly market or for the protection of investors.
Sichuan Baicha Baidao operates the ChaPanda brand, which sells fruit and milk tea beverages. The company is listed on the Hong Kong Stock Exchange under the stock code 2555.
The suspension comes without prior announcement of any corporate action or regulatory issue involving the company. Further details are expected to emerge as the situation develops.
