(Reuters) – China Renaissance said on Friday it applied to the Hong Kong Stock Exchange to resume trading in its shares from Monday, since it had fulfilled all requirements prescribed by the bourse, including publishing all pending financial results.
Trading in the boutique investment bank’s shares has been suspended since April 3, 2023, due to a delay in publishing its fiscal 2022 results after mainland authorities’ request for cooperation from its then-chairman and CEO Bao Fan in an investigation.
Bao’s absence rendered the bank unable to sign off on earnings reports until he became available for contact.
Star dealmaker Bao, who founded China Renaissance in 2005, is one of several high-profile executives in the country’s finance industry who have gone missing in recent years with little explanation amid a sweeping anti-corruption campaign led by President Xi Jinping.
Bao resigned as the chairman and CEO of the company earlier this year, and Xie Yi Jing was appointed to both the positions.
China Renaissance said in an exchange filing on Friday that it had kept its investors updated on all material developments of the firm, including announcements on the progress in meeting the trading resumption criteria.
It posted an attributable loss of 471.9 million yuan ($66.55 million) for 2023, and a loss of 73.8 million yuan for the six months ended June 30.
($1 = 7.0907 Chinese yuan renminbi)
(Reporting by Shivangi Lahiri in Bengaluru; editing by Alan Barona)
