(Yicai Global) Sept. 11 -- The temporary trading halt of shares last Friday by Tianjin Faw Xiali Automobile Co. [SHE:000927] has put the company under the market spotlight once again. The shares of the company are likely to be transferred, the Securities Daily reported, citing an insider source.
Faw Xiali suspended trading of its shares last Friday, saying its controlling shareholder FAW Group Corporation asked for a trading halt.
There could be two reasons behind the move, a source close to FAW told the Securities Daily: overall listing of FAW Group, or FAW's transfer of Xiali equities. As the shares of FAW Car Co. [SHE:000800], another subsidiary of FAW Group, still continue trading, FAW Group has a fair chance of transferring Xiali equities.
The move may be related to FAW Group's new head Xu Liuping's plans for the company's own brands adjustment. The two major issues facing Xu is the overall listing of FAW and rallying of the self-owned brands.
The stocks of FAW Car rose right after the trading session opened last Friday following the news, adding 6.2 percent.
As for the backdoor listing rumors about Qihoo 360 Technology Co. through FAW Xiali, the company refused to comment on what it called "rumors," saying company statements shall prevail.