Shares tumble as Sino-Forest postpones promised tour
Company made move because of lack of analyst coverage
Here at Maclean's, we appreciate the written word. And we appreciate you, the reader. We are always looking for ways to create a better user experience for you and wanted to try out a new functionality that provides you with a reading experience in which the words and fonts take centre stage. We believe you'll appreciate the clean, white layout as you read our feature articles. But we don't want to force it on you and it's completely optional. Click "View in Clean Reading Mode" on any article if you want to try it out. Once there, you can click "Go back to regular view" at the top or bottom of the article to return to the regular layout.
Shares of the Chinese company Sino-Forest tumbled Wednesday on the TSX, dropping as much as 20 per cent after the company announced the postponement of a promised tour of its forestry assets. The company said it has delayed the tour because of a recent lack of coverage from analysts. Last month, the value of Sino-Forest shares and bonds plummeted after accusations were made that the company was exaggerating the size of its assets in China. Sino-Forest has denied these allegations and is conducting an internal review to investigate the matter, which may take up to three months to complete.
Reuters
