China Renaissance, a top dealmaker in the country’s tech industry, said it would suspend trading of its shares and delay the release of its annual results because it still can’t get in touch with its founder.
Bao Fan, 52, started the boutique investment bank in 2005 and has been unreachable since the middle of February, according to the company. Shares in China Renaissance have plunged since Bao went missing, at one point dropping as much as 50%. China Renaissance said in late February that it had learned Bao was “cooperating in an investigation” being carried out by certain authorities in the country. It gave no other details.
He helped broker the 2015 merger between two of the country’s leading food delivery services, Meituan and Dianping. Today, the combined company’s “super app” platform is ubiquitous in China. His team has also invested in US-listed Chinese electric vehicle makers Nio\n \n and Li Auto and helped Chinese internet giants Baidu\n \n and JD.com\n \n complete their secondary listings in Hong Kong.
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