Guo appeared at the Fosun event at the Kerry Hotel Pudong in eastern Shanghai where he discussed the company’s strategy and performance, but did not speak about his apparent missing-fosun-chairman-guo-guangchang-assisting-chinese-judiciary-5299/”>disappearance, Reuters reported, citing a source. A day after, Fosun confirmed that Guo, dubbed “China’s Warren Buffett” was assisting authorities with a probe that mostly concerns his personal affairs.
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Application was made by the company to The Stock Exchange of Hong Kong for the resumption of trading of shares of the company and the convertible bonds with effect from 9:00 am on Monday, 14 December 2015.
The billionaire chairman of Fosun Group, one of China’s biggest privately-held conglomerates which also owns Club Med, reappeared today after he disappeared from public view in connection with an investigation by authorities, Chinese media said.
Analysts, however, say access to these funds could become more hard if the investigation into Guo deepens, rattling investors already spooked by a widespread government crackdown on corporate graft, especially in China’s financial sector.
“Fosun has developed a clearer idea of the meaning of its existence”, Guo said during his speech at the meeting after receiving a wave of applause lasting for two minutes. The high-profile Chinese tycoon was first reported missing Friday.
The statements stressed the probes had no “material adverse impact” on the finances or operations of the parent company.
Hong Kong’s benchmark stock index fell for the eighth straight session to a more than 2-month low on Monday, as investors braced for possibly higher U.S. interest rates later this week. People who attended the meeting said he gave only welcoming comments to the group and didn’t mention the investigation.
The booth of Shanghai Fosun Pharmaceutical at an industry expo in Nanjing, capital of Jiangsu province, in September.
Shares of local-listed Shanghai Fosun Pharmaceutical (Group) Co closed at 24.26 yuan (US$3.79), down 3.77 percent from the last trading day.
Guo is China’s 17th richest man, with an estimated wealth of about $7.8 billion, according to the Hurun Report, which publishes a ranking of China’s wealthy.
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Ironshore chief operating officer and CEO of the companys Bermuda platform Mitch Blaser did not return a call from The Royal Gazette.
