September 05, 2012
Shares of pay-television operator i-Cable Communications (1097) soared as much as 43 percent in afternoon trading yesterday on rumors that the Executive Council has discussed the granting of free TV licenses in the SAR.
The stock hit 41 HK cents at 2.30pm, compared with Monday’s closing of 29 HK cents. It later closed at 37 HK cents yesterday, up 29 percent.
“There are no negotiations or agreements relating to intended acquisitions or realizations which are discloseable under Rule 13.23 of the Listing Rules,” i-Cable said in a filing announcement, explaining it had no idea why its shares had surged.
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