Shenzhen Grandland Group's (SHE:002482) shareholder, Grandland Holdings Group, received a court order to auction 3.20% of the company's stake, according to a Shenzhen bourse filing on Saturday.
The construction company's shares rose 1% during Monday's afternoon trade.
The stake, which represents 120,000,000 shares, will be auctioned between June 22 and June 23.
Henan Huaying Agricultural Development (SHE:002321) said the 15.2 million shares held by 5% shareholder Guangzhou Chenyue were transferred following a judicial auction by a Beijing court.Guangzhou Chenyue's stake fell to 15.30% from 16.01%, according to a weekend filing with the Shenzhen bourse.Shares of the duck meat product producer rose 3% in recent trade.
The Indonesia government is incentivizing exporters of natural resources to place their earnings in state-owned banks by offering tax exemptions, The Jakarta Globe reported May 31.The move comes under a revised policy mandating parking earnings in state-owned banks for a designated period of time that took effect June 1."The income tax rate becomes 0%" for exporters complying with the regulation, the news outlet reported, citing Finance Minister Purbaya Sadewa.The extent of tax exemptions will reportedly be dependent on the length of time for which an exporter's earnings are retained within the country.Under the revised rules, most natural commodity exporters are mandated to deposit 100% of their export proceeds in Indonesia banks for a minimum of 12 months, while oil and gas exporters need to park 30% earnings for at least three months.The conversion of export proceeds into the rupiah from foreign currencies has also been capped at 50%, according to the report.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
Innovax's (HKG:2680) Chairman Chung Chi Man and CEO Poon Siu Kuen, Calvin, resigned effective May 30 due to a change in control of the firm, according to a May 29 Hong Kong bourse filing.Shares of the financial company were up 4% in Monday afternoon trading.The firm, on the same day, named Wang Tingfa as its new chair and CEO.Wang is a controlling shareholder of the company as he owns Billion Shine International Investment, which holds a 75% stake in the firm.