not vested
Fosun Chairman Guo Is “Back”, Reappears At Annual Meeting
By Shuli Ren
Fosun Group’s chairman Guo Guangchang is already finished with “assisting investigation” and is attending Fosun’s internal annual meeting, Chinese media reported.
Guo’s disappearance grabbed headlines worldwide. Dubbed as China’s Warren Buffett, Guo built an investment conglomerate in Shanghai.
Fosun International (656.Hong Kong) and Fosun Pharma (2196.Hong Kong), which Guo personally holds 41% and 16% stake of, will resume trading today.
Fosun International tumbled over 25% in two days in over-the-counter trading in New York, according to Bloomberg.
In a press meeting over the weekend, Fosun’s CEO Liang Xinjun and President Wang Qunbin said Guo’s investigation was “personal” and not related to the company.
They also said the management would not sell their stakes and would consider buying additional shares if the stocks tank. Liang and Wang hold another 24% and 11% of Fosun International.
Source: Barron's Asia