SYDNEY :China Renaissance Holdings Ltd saw its shares plummet by as much as 50 per cent on Friday after the boutique investment bank said it is unable to contact Chairman and Chief Executive Bao Fan.
"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," the mainland China-based bank said in a late-Thursday filing. Bao, a well-known dealmaker, is China Renaissance's founder and controlling shareholder, having previously worked at Credit Suisse Group AG and Morgan Stanley.