Best World shares plunge 12%; SGX issues query

Company refers to Bloomberg report on concerns about China crackdown on direct sellers as possible explanation

Published Tue, Aug 15, 2017 · 09:50 PM

Singapore

SHARES of Best World International, a direct seller of skincare and wellness products, on Tuesday fell 12 per cent or 18.5 Singapore cents to close at S$1.355 on news of China's crackdown on pyramid schemes.

The stock opened at S$1.48 but dived to its lowest point of S$1.22 at 11.54am. It was one of the most actively traded stocks on Tuesday, with 29.1 million shares traded.

The unusual share volume movement prompted a query from Singapore Exchange.

Best World referred to a Bloom-berg article "Herbalife, Nu Skin shares plunge over fears of Chinese crackdown" published on Tuesday as a possible explanation, although …

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