Dec 20, 2021 08:53 PM

BUSINESS

Offcn Education Plunges on Disclosure Probe

By Huang Huizhao, Wang Bowen and Kelsey Cheng

Vocational education operator Offcn Education Technology Co. Ltd. (002607.SZ) said it has been placed under investigation by China’s securities regulator on suspicion of violating disclosure rules.

Shares of the company plunged nearly 10% in Shenzhen to close at 8.77 yuan ($1.38) on Friday following the announcement (link in Chinese), which did not provide details. The stock shed another 7.87% on Monday to close at 8.08 yuan.

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