A DECISION on the future of Hong Kong-listed Hanergy Thin Film Power Group could come within weeks after the solar panel equipment maker met regulators last month as part of efforts to end a three-year trading suspension, sources said. Hanergy’s stock collapsed spectacularly in May 2015, when, after a five-fold increase over the previous 12 months, it plunged 47 percent in 24 minutes, wiping out US$19 billion in market capitalization before the company asked for the shares to be suspended. The case is being watched for what it reveals of the regulator’s toughened stance toward listed firms after it became more proactive in probing suspicious share price moves in response to several high-profile stock crashes. In a sign that a decision on a resumption of trading could be pending, Hanergy executives met with Hong Kong’s Securities and Futures Commission (SFC) in late September as part of the regulator’s investigation, sources with knowledge of the matter said. A decision on a resumption is usually delivered by the regulator within a month of such a hearing, the sources said, although they warned a ruling in this case could take longer. The SFC’s decision cannot be appealed by the firm. The SFC announced an investigation after Hanergy’s collapse and slapped its own trading suspension on the company, meaning it would need regulatory approval to resume trading. (SD-Agencies) |