Hopson Shares Sink 30%, Most Since 2009, After Auditor Resigns

(Updates with share moves)

Hopson Development shares plunged 30% after co. said PricewaterhouseCoopers has agreed to resign as the company’s auditor, effective Jan. 27, as they could not reach a consensus on the audit fee for the financial year ended Dec. 31, according to a filing.

• PwC told Hopson it did not receive information on certain matters and therefore could not plan and complete the necessary audit procedures
  • Matters include accounting treatment of certain of the Group’s equity investments and property projects and the valuation of the Group’s investment properties, as well as the overall impact of these material matters ...