The information spread online claiming “CFO of SOHO China Ni Kuiyang is being investigated by police on suspicion of insider trading” is not unfounded, the Global Times learnt from a source close to the matter on Wednesday.
Some Weibo posts recently said Ni, Chief Financial Officer of one of China’s biggest real estate developers SOHO China, was subjected to police investigation on suspicion of insider trading, and senior management personnel were also being investigated.
The posts have attracted attention from shareholders with some questioning the company which did not publicly disclose major changes of the company in a timely manner. Some shareholders called on SOHO China to earnestly safeguard the interests of the shareholders and release relevant information as soon as possible.
The source close to the matter told the Global Times that the information about SOHO China CFO being subjected to police investigation on suspicion of insider trading was not unfounded.
As of press time, SOHO China has not yet responded publicly to the information.
Wangjing SOHO Photo: VCG
