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China: Baby care co takes digger in stocks following probe announcement

By  |  June 28, 2013
China: Baby care co takes digger in stocks following probe announcement

China-based baby care products manufacturer Biostime International Holdings Inc. suffered a major loss in the stock markets following news the company is under investigation for possible anticompetitive conduct. According to reports, Biostime shares dropped up to 10 percent – its deepest drop in nearly two years – as the National Development and Reform Commission is looking into the firm for allegations of price-fixing. The case follows just months after Kweichow Moutai and Wuliangye Yibin were both fined by regulators for setting minimum retail prices, say reports.

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