After the Chinese government blocked Coca-Cola’s $2.4 billion bid for China Huiyuan Juice  Group Ltd, Huiyuan’s share price had a sheer drop in Hong Kong on March 19, 2009.

Huiyuan’s shares dropped by HK$3.49 per share, or 42.05%, to close at HK$4.80 apiece. In early trading, the company’s shares dropped 53% at one point to the day’s lowest level of $3.88. After having been suspended since March 11, 2009, the stock continued trading on March 19, 2009.

The recent price fall was in a sharp contrast to its performance in the past several months after the announcement of the Coca-Cola bid. Huiyuan’s shared price had doubled since September in 2008 after the beverage giant of America offered a deal of HK$ 12.2 in cash for each of Huiyuan’s listed Read more…

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bid, China, economy, failure, Huiyuan, price, share