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Shares of AGTech Holdings Ltd, a Hong Kong-listed technology consultant whose stock has increased 140-fold in the past year, were suspended from trading, pending an announcement of a stock placement. AGTech, based in Macao, will release a statement on the placement of new and existing stock, according to a filing to the Hong Kong stock exchange yesterday, which doesn't say when the statement will be made.

The company, controlled by Chairman John Sun, is seeking $75 million from a sale of shares at between HK$1.77 and HK$1.91 apiece, according to a term sheet sent to fund managers on Tuesday.