China’s securities regulator on Thursday ordered diversified property and financial services company Legend Holdings 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 also lagged behind 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.
- Reuters, with additional editing by George Russell
Note: Reuters’ initial report incorrectly named the firm involved in this matter as Lenovo. This was corrected later on April 14, 2022.
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