ISS Shares Plunge Following Report on Involvement in Hong Kong Building Fire

The Danish services company ISS saw its shares tumble sharply on Tuesday, dropping by 7.4 percent at the time of writing.

The decline follows a report by the South China Morning Post (SCMP), which stated that ISS's unit, ISS EastPoint Properties, was among the key parties involved in the renovation of the Hong Kong residential complex that was engulfed by fire last week, resulting in over 150 fatalities.

According to SCMP, the company was contracted to oversee the procurement of fire safety measures and to act as a liaison between residents and renovation contractors at the Hong Kong property.

In a statement to SCMP, ISS EastPoint said it was "actively cooperating" with the city's fire department and other authorities.