Mainland property developer China Vanke announced on Tuesday it had signed a letter of intent to issue new shares to an unnamed investor in exchange for some of its assets, though it did not disclose the assets to be sold or number of shares to be issued, The Wall Street Journal reported, citing a filing […]
Category: Business Practice
The financial controller and executive director of troubled solar-power equipment maker Hanergy Thin Film Power Group, Li Guangmin, has resigned from those positions, The Wall Street Journal reported, citing a statement to the Hong Kong Stock Exchange. Hanergy Thin Film suspended trading of its shares in May after its stock price fell 47% in just […]
Guo Guangchang, the billionaire chair of Fosun Group, reappeared on Monday for the privately-held conglomerate’s annual meeting, Agence France-Presse reported. The meeting marked Guo’s first appearance since disappearing Thursday for what statements from the company later said was a spell “assisting in certain investigations” conducted by Chinese authorities. The statements said the probes had no […]
Fosun International said its Chairman Guo Guangchang was assisting authorities with an investigation on Friday after shares in the company and those controlled by Guo were suspended in Hong Kong and the mainland on Friday, Reuters reported, citing a statement from the company. “Guo is one of the high-profile Chinese entrepreneurs and this incident will raise […]
Chinese conglomerate Fosun International suspended trading of its Hong Kong-listed arm on Friday morning following questions regarding the whereabouts of chairman Guo Guangchang, Bloomberg reported. Caixin had reported on Thursday that Fosun Group, China’s largest private-sector conglomerate, had been unable to contact Guo since noon of that day. Unnamed sources told the magazine that executives […]