Fan Bao, founder, Chairman and CEO of China Renaissance Group, an investment bank led by one of the country’s most famed rainmakers, holds a news conference on its IPO in Hong Kong, China September 13, 2018.
REUTERS/Bobby Yip/File PhotoAug 9 (Reuters) - China Renaissance Holdings (1911.HK) said on Wednesday that investigations against its chairman Bao Fan by certain authorities were being carried out with his cooperation.
The probe is the latest in a series of high-profile Chinese executives going missing with little explanation during a sweeping anti-corruption campaign spearheaded by President Xi Jinping.
The disappearance of Bao in February saw shares of the investment bank plunge as much as 50% and led the bank to suspend trading in the stock from April.
China Renaissance also said it would delay its audited annual results.
Persons:
Bao, Bobby Yip, Bao Fan, Xi Jinping, Xie Yi Jing, Wang Lixing, Roushni Nair, Arun Koyyur
Organizations:
China Renaissance Group, REUTERS, China Renaissance Holdings, HK, Economic Observer, Thomson
Locations:
Hong Kong, China, Bengaluru