Guo Guangchang, chairman of China’s biggest privately owned conglomerate, made his first public appearance after being held for four days by the authorities.
When the reported disappearance of Guo Guangchang, chairman of Fosun Group, rippled through markets, it exposed the “key man” risk for investing in Chinese companies.
Cut from "BB+" to "BB" underlines need for China’s largest privately owned investment company by revenue to control its leverage risks and diversify fundraising channels.
CEO Liang Xinjun talks to FinanceAsia about the shift from a Chinese industrial conglomerate to a global investment group. The interview comes as Fosun launches a rights offering.
The high-yield deal comes after a strong run in the share price and is supported by the fact the Chinese conglomerate is rated. The CB falls below par in the aftermarket, however.
The deal comes as the Hang Seng Index breaks 23,000 points and follows close behind the massively oversubscribed IPO for fellow Chinese investment company Fosun.