Shares in a big Chinese investment bank plunge 20% after its billionaire founder goes missing
Shares in a leading Chinese investment bank plunged more than 20% after its billionaire founder vanished from public sight. The company noted it"has been unable to contact" its founder and."The Board is not aware of any information that indicates that Mr. Bao's unavailability is or might be related to the business and/or operations of the Group which is continuing normally," according to a filing with the Hong Kong stock exchange.
The Beijing-based investment bank's day-to-day operations will be spearheaded by the executive committee of the company in Fan's absence, the statement added. Fan's disappearance follows an investigation of Cong Lin, the former chairman of China Renaissance's subsidiary firm Huajing Securities, according to a Chinese financial news outlet,
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