China Renaissance drops most on record as trade resumes after 17-mth halt

China Renaissance Holdings

09/09/2024 04:34

** Shares of China Renaissance  1911.HK  plunge 72.8% to
HK$1.98, lowest and biggest drop since debut in September 2018,
when they resumed trading 17 months after being halted during a
probe involving its then-chairman and CEO Bao Fan
    ** Stock last down 62.7%; top loser on the Hong Kong bourse
    ** Trading of the boutique investment bank was suspended on
April 3, 2023, due to a delay in publishing its 2022 results
after mainland Chinese authorities requested Bao's cooperation
in an investigation
    ** China Renaissance, which appointed Xie Yi Jing to replace
Bao as chairman and CEO this year, published its long overdue
earnings results last week, allowing it to resume trading
    ** Hang Seng Mainland Banks Index  .HSMBI  falls 2.1% while
Hang Seng Composite Index  .HSCI  and Hang Seng Index  .HSI 
each slip 1.8%


 (Reporting by Donny Kwok)
 ((donny.kwok@thomsonreuters.com))