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Writer Yu Qiuyu invests in mall firm

Renowned writer Yu Qiuyu

China's Securities Regulatory Commission approved a listing from Shanghai Xujiahui Shopping Mall Company. Renowned writer Yu Qiuyu is among the company's top ten shareholders of its prospectus.

Mr. Yu's assistant's mobile phone does not connect when it is called. But the company confirms the famous scribe is among its shareholders.

Head of Shanghai Xujiahui Shopping Mall Co. Ltd. said "Writer Yu Qiuyu is the company's shareholder. For furthur information, please refer to the prospectus."

According to the prospectus, the company is poised to be listed on Shenzhen's SME Board. Yu Qiuyu holds 1.5 percent of the company's equity, or more than 5 million shares. Yu's shares account for nearly 70 million yuan.

Xujiahui Shopping Mall is the former Shanghai Sixth Shopping Mall. It was established in 1952. According to the prospectus, Shanghai Sixth Shopping Mall converted one quarter of its shares to 35 people. Sources say Yu bought more than 820-thousand shares at less than 3 yuan per share eight years ago.

Today, Yu owns more than 5 million shares. The law requires these shares are frozen for one year. But once this period expires, Yu is free to sell the shares.



 Source : CCTV   Editor: Ivy
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