Star investment banker Bao Fan – who helped introduce many of China’s largest technology companies to the capital markets of Hong Kong and New York – has been set free, more than two years after he started “cooperating” in an unspecified investigation launched by mainland authorities.
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According to a report by Chinese financial media outlet Caixin, which cited multiple sources, the 54-year-old founder of China Renaissance Holdings “has recently been released”.
China Renaissance did not immediately respond to a request for comment.
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China Renaissance stock closed up 16.84 per cent to HK$6.87 on Friday, about 21 per cent off its peak of HK$31.80 in February 2021.
