- Shares of China Information Technology (CNIT-OLD -17%) are plunging after the company disclosed that it had granted 3M restricted shares to employees as part of its 2013 equity incentive program at a price of $3.00 per share with a 13-month lock-up. (6-K)
- The shares represent a dilution of 11.1%.
- Today's move also smacks of momentum reversal, after shares climbed 32% last week.
China Information Technology plunges on 3M share equity incentive grant
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Symbol | Last Price | % Chg |
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CNIT-OLD | - | - |
China Information Technology |