. China Renaissance, an investment bank and private equity firm based in Beijing, said in a Thursday filing to the Hong Kong stock exchange that it “has been unable to contact” Bao Fan, its chairman and CEO. Shares of the company plunged as much as 50% in Hong Kong on Friday following the news. The stock last traded 29% lower. “The board is not aware of any information that indicates that Mr.
Chinese authorities detained Cong Lin, the company’s president, in September, it reported, citing unidentified sources. China has a history of detaining execs Bao’s disappearance follows those of other high-profile business leaders in China, where it is not uncommon for executives to suddenly drop off the radar with little explanation.
Forgot to send his monthly cheque to Xi the Pooh, I guess!
Vanishings!