Hong Kong's Securities And Futures Commission Publicly Criticises China New Way Investment Limited And Related Parties For Breach Of Takeovers Code

The Securities and Futures Commission (SFC) today publicly criticised China New Way Investment Limited (Offeror), Mr Wei Judong, Mr Zhang Xiaoliang, Ms Yang Weizhi, Mr Wei Lidong and Mr Xu Jianhua (collectively referred to as the Parties) for acquiring shares in China City Construction Group Holdings Limited, formerly known as Chun Wo Development Holdings Limited (Company) within six months after the close of an offer at above the offer price in contravention of the Takeovers Code (Notes 1, 2 & 3).