Shares of mainland developer Sun Century soar 240pc

Investors turned their sights on little-known Sun Century Group yesterday after its shares closed up 239.7 per cent.

Shares in the mainland property developer rose to HK$1.97 from Thursday's close of 58 HK cents, after soaring 517.2 per cent to reach a day high of HK$3.58.

Sun Century said it was not aware of any reasons for the stock's rise and added that it was not engaged in any negotiations or agreements relating to intended acquisitions or disclosable transactions.

via Business feed http://www.scmp.com/business/companies/article/1037233/shares-mainland-developer-sun-century-soar-240pc