SFC keeping close watch on Next Digital

Business | Kevin Xu 12 Aug 2020

The Securities and Futures Commission said last night it will continue to closely monitor trading activity in relation to the shares of Next Digital (0282) after they skyrocketed 1,122 percent in the last two days.

The Apple Daily publisher closed at HK$1.1 yesterday from HK$0.09 last Friday after the arrest of tycoon Jimmy Lai Chee-ying and a police search of its Tseung Kwan O offices. But Next Digital said it is not aware of any reason for the price and volume movement, any information which must be announced to avoid a false market in the company's securities or any inside information that needs to be disclosed.

Lawmaker Christopher Cheung Wah-fung, who represents the financial services sector, called for the SFC to ask Next Digital to suspend trading in its shares.

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