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In recent news, China Renaissance, a prominent dealmaker in China’s tech industry, announced the suspension of trading its shares and the delay in releasing its annual results due to the founder’s unavailability. Bao Fan, the founder of the boutique investment bank, has been unreachable since mid-February, causing shares in China Renaissance to plummet by as much as 50%.
China Renaissance revealed that Bao was allegedly cooperating in an investigation being conducted by authorities in China. This development has raised speculations that Bao might be assisting in an investigation related to a former executive at China Renaissance. The absence of Bao has hindered auditors from completing their work and signing off on the report, resulting in the suspension of trading in the company’s shares.
Bao, known for his expertise in dealmaking with top technology companies in China, has played a crucial role in brokering significant mergers and investments in the tech industry. His involvement in high-profile deals, such as the merger of Meituan and Dianping, has solidified his reputation as a veteran dealmaker in China’s financial landscape.
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