Fan Bao, founder, Chairman and CEO of China Renaissance Group, an investment bank led by one of the country
HONG KONG: Investment bank China Renaissance plunged as much as 24% on debut in Hong Kong yesterday, becoming the latest high profile Chinese listing in the city that investors have soured on.
China Renaissance, which has advised on some of the country’s biggest technology deals and is led by famed rainmaker Bao Fan, was hurt by the stock market performance of some recent large initial public offerings (IPOs) which signalled trouble for that line of its business, some analysts said.
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