Bloomberg News

Chandler Bought Sino-Forest Shares Before Suspension

August 30, 2011

(Corrects total amount of shares held.)

Aug. 30 (Bloomberg) -- New Zealand’s Richard Chandler Capital Corp. bought 1.2 million shares of Sino-Forest Corp. on Aug. 24, two days before the stock was suspended from trading by Canadian regulators. The purchases increased his holdings to 48 million shares, according to a disclosure with Canadian regulators. Chandler paid C$4.65 a share. The Ontario Securities Commission suspended Sino-Forest, saying the company may have misled investors and exaggerated its timber holdings.

To contact the editor responsible for this story: David Scanlan at dscanlan@bloomberg.net.


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