CMR suspends shares, plans to dispute report

Jan 31, 2013 | 05:24 PM |

Tags  China Metal Recycling, CMR, Glaucus Research, scrap, trading suspended

SHANGHAI — Shares in China Metal Recycling (Holdings) Ltd. (CMR), which claims to be the biggest scrap company in China, remained suspended for a fourth day Jan. 31 as the company prepared a response to allegations from a U.S.-based research company.

CMR asked Hong Kong Exchanges & Clearing Ltd. (HKEx) to halt trading in its shares on Jan. 28 after Glaucus Research Group California LLC published a 38-page report challenging CMR’s account of the size and scope of its business. ....

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