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Yangzijiang’s chairman takes leave of absence to assist unspecified Chinese investigation
Yangzijiang Shipbuilding’s shares were down almost 15% this afternoon on the Singapore Exchange after it revealed its executive chairman and controlling shareholder, Ren Yualin, has taken a leave of absence to help authorities in China with an unspecified confidential investigation.
Ren Letian, the CEO of the company, China’s largest private shipbuilder, will assume the role left by his father as the investigation continues in China.
Yangzijiang had sought a trading halt on the Singapore Exchange earlier in the week after its shares plunged close to 30% prompting regulators to ask the yard what was going on.
https://splash247.com/yangzijiangs-...-to-assist-unspecified-chinese-investigation/
Yangzijiang Shipbuilding’s shares were down almost 15% this afternoon on the Singapore Exchange after it revealed its executive chairman and controlling shareholder, Ren Yualin, has taken a leave of absence to help authorities in China with an unspecified confidential investigation.
Ren Letian, the CEO of the company, China’s largest private shipbuilder, will assume the role left by his father as the investigation continues in China.
Yangzijiang had sought a trading halt on the Singapore Exchange earlier in the week after its shares plunged close to 30% prompting regulators to ask the yard what was going on.
https://splash247.com/yangzijiangs-...-to-assist-unspecified-chinese-investigation/
