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.
Wednesday, July 6, 2011