Hong Kong regulator cautions investors over Virscend Education

Virscend Education

16/05/2016 09:42

HONG KONG, May 16 (Reuters) - Hong Kong's securities 
regulator said investors should exercise "extreme caution" when 
trading shares of Virscend Education Co Ltd  1565.HK , because a 
small group of investors hold the majority of its shares. 
    The group, including Virscend's chairwoman, Wang Xiaoying, 
her husband, Yan Yude, and his daughter, together with some 
investors who bought shares during the company's IPO in January, 
control 95.52 percent of the shares, the Securities and Futures 
Commission (SFC) said in an e-mailed statement on Monday. 
    The warning follows similar SFC notices last year against 
Goldin Financial Holdings  0530.HK , Goldin Properties Holdings 
Ltd  0283.HK  and Jicheng Umbrella Holdings Ltd  1027.HK  after 
shares in the companies rallied within a brief period. 
    Virscend's shares gained 95 percent over its IPO price in 
January, the SFC added. 
 
 (Reporting by Elzio Barreto; Editing by Clarence Fernandez) 
 ((elzio.barreto@thomsonreuters.com;)(852)(2843-1608; Reuters 
Messaging: elzio.barreto.thomsonreuters.com@reuters.net)) 
 
Keywords: VIRSCEND REGULATOR/