China securities regulator orders Legend Holdings to fix information disclosures
SHANGHAI/BEIJING (Reuters) – China’s securities regulator on Thursday ordered Legend Holdings Corp to rectify information disclosure issues.
The China Securities Regulatory Commission (CSRC) said in a statement that a regular on-site inspection found that the company released its 2020 annual report in Hong Kong earlier than it did in mainland China.
Legend’s disclosure via the Shanghai Stock Exchange of its acquisition of Banque Internationale a Luxembourg SA also lagged its announcement through the Hong Kong bourse, it said.
The company also failed to disclose that shares of some Legend subsidiaries were used as collateral, while information involving non-operational lending activities was not accurate.
(This story corrects media slug and throughout article to say that Legend Holdings, not Lenovo, was ordered to fix disclosures; removes mention of Lenovo share price.)
(Reporting by Samuel Shen and Eduardo Baptista; Editing by Edwina Gibbs)