CSIG back to Share Market after suspension

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On the 1st December, trading of China Sports Industry Group shares (600158) resumed on the Shanghai Stock Exchange (SSE) after a 13-day suspension. 

Before suspension, the last closing price of CSIG was 2.9 USD (20.19 CNY) on 11th November. Although CSIG’s resumption price was 4% higher than its closing price, it rapidly fell to its lowest level at 2.8 USD (19.18 CNY) within an hour. After that, a steady increase brought it to its highest point of the day at 3.2 USD (22.21 CNY). Then, after a day of frequent fluctuations, its shares finally ended 7.97% up from the day’s opening price, at 3.1 USD (21.8 CNY). 

While CSIG may deliberately be holding back on the identity of new funders, the initial documents of corporation restructuring, which they submitted to the SSE, clearly show that they did not make contact with either Wanda Group or AliSports Group. As of now, it is not known which companies are likely to  step in as new funders to take over CSIG.

‍‍‍‍Proofread by Sean O Diobhilin‍‍‍‍