China Renaissance founder Bao Fan still ‘cooperating’ in Beijing’s probe six months after sudden disappearance
- Founder and chairman Bao Fan is still cooperating in the investigation by Chinese authorities, China Renaissance says in an exchange filing
- The banker had worked on many high profile mergers in China’s tech industry such as Didi Chuxing, Meituan and Trip.com
“The company noted that Mr Bao is still cooperating in the investigation carried out by certain authorities in the PRC,” China Renaissance said in a filing to Hong Kong stock exchange on Wednesday.
The investment bank added that it was operating normally under the supervision of its executive committee and directors and that it would continue to monitor matters related to Bao and update investors “when appropriate”.
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Chinese billionaire tech banker Bao Fan reportedly missing, sending Renaissance shares tumbling
The company said in a statement on February 16 that it was not able to reach Bao and was unaware of his whereabouts. It was followed by a statement on February 26, which noted the banker had been taken away by mainland Chinese authorities for questioning.
Shares of China Renaissance had plunged by some 30 per cent following the initial announcement before they were suspended from trading on March 31.