Shampoo Firm's Shares Surge As Suit Is Settled
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2018-06-06 HKT 12:08
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Shares of mainland herbal shampoo maker, BaWang, surged as much as 43 percent on Wednesday after the company's former chief executive agreed to dismiss a winding up petition.
Last year, Wan Yuhua, the wife of the company chairman, filed the petition to shut down a company which controls the shampoo maker.
She accused her husband Chen Qiyuan of using her as a "money-making machine and baby-making slave".
In a statement to the Hong Kong Stock Exchange, the company said the couple reached a settlement to dismiss the winding up petition, but gave no further details.
The shares surged 28 cents at the opening, but pared back to 25 cents as trading entered the second hour.
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