ABIT Woes - Stock Downgraded
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At the time of our writing it's about 04:30 in the morning in Taipei, so the very fullest details are difficult to establish, but we've just heard that the Taiwanese authorities have come out and confirmed that the owner of ABIT, or perhaps ABIT itself, is under investigation for financial irregularities.
These allegations of financial irregularities seem to relate to the Share dealings of the owners of the company.
Apparently ABIT may still be permitted to trade its Shares on Taiex the Taiwanese Stock Exchange, but this seems to be only on a cash basis. Apparently some 50% of ABIT's capital is in its Shares.
Oh dear!
More details on the HEXUS Front Page.
