17 Oct 2016
The Hong Kong-listed owner of English football club Birmingham City lost nearly a third of its value on Monday as the stock resumed trading after a near two-year suspension over a financial scandal that saw ex-chairman Carson Yeung jailed.
Shares in Birmingham International Holdings Ltd skidded as much as 45 percent when trading opened, hitting a record low of HK$0.51 before rebounding. At midday break, the shares were down 28 percent at HK$0.62 each, valuing the firm at about $328 million (269.71 million pounds).
Hong Kong businessman Yeung’s story has been seen as something of a cautionary tale for investors amid a broad push into the international football business by big-name Chinese firms like Dalian Wanda.
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