Landing International has confirmed that it has still been unable to contact its Chairman, Yang Zhihui, amid concerns over unusual movements in the company’s share price on the Hong Kong Stock Exchange in recent days.
In a Tuesday filing, Landing said it was unaware of any reasons for the price movements, which saw shares fall from HK$2.62 early Friday to HK$2.26 at close, then plummet again to HK$1.86 within an hour of the market re-opening on Tuesday morning. Shares closed on Tuesday at HK$1.80.
However, Landing also revealed that its inquiries into any potential reasons for the price movement did not include Yang, “who is unable to be contacted or reached as at the date of this announcement.”
As previously reported by Inside Asian Gaming, it is believed that the Chairman was detained in Cambodia in August and transported back to mainland China upon the request of Chinese authorities.
Notably, Landing had suspended trading just 24 hours earlier due to the company’s share price plummeting 35% from HK$5.60 to HK$3.71 in less than two hours.
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