The graph above shows the movements in Zhu Minshen's Top Group's share price since its IPO and listing on the Hong Kong Stock Exchange.
It is easy to see that there was an initial spike after which share price and market capitalisation collapsed.
Anyone familiar with Asian markets will see that the Top Group listing and movement in share price follows the well trodden path of companies that list as soon as hard to get approvals are obtained and then sold via an IPO. In the case of Top Group the relevant approval was the "first and only" license to grant Australian law degrees granted a private company, granted by the NSW Legal Profession Admission Board,after consultation with the Law Council Australia.
It has already been shown on this blog that the granting of that license coincided with donations from Top and Zhu to the NSW Liberal Party. Consequently a inquiry into who the beneficiaries of the IPO were seems a logical step for an inquiry into political donations in NSW, but not it seems for Peter Hall QC and ICAC.
Peter Hall QC and ICAC have been provided information about Top Group by Dr Amen Lee, but ICAC will still not call Zhu Minshen
TOP Education Institute's Bachelor of Laws : Political donations,HK Stock Exchange IPO seem to have left regulators confounded, speechless