The Hong Kong Stock Exchange and its sibling, the Growth Enterprise Market, have become a breeding ground for paper billionaires.
In the past three years alone, perhaps as many as a dozen executives, many from mainland China, have amassed billion-plus wealth as their companies’ share prices soared, usually for no apparent reason.
The executives and their companies haven’t been accused of wrongdoing.
But the phenomenon has raised flags for Hong Kong regulators, who warn that the stocks can be susceptible to manipulation, particularly when few of the shares are in the public’s hands.
More news, A 9,800% Stock Increase Exposes Hong Kong's Billionaires on Paper
Source :
1) www.bloomberg.com
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