People familiar with the matter revealed that China ’s billionaire Guo Guangchang plans to reduce the shares of Debang Securities Company, a medium -sized enterprise.
Bloomberg News Friday (April 28) quoted anonymous insiders reported that Guo Guangchang has discussed with at least three state -owned entities to invest in Debon Securities, but related matters are still negotiating.Without determination, Guo Guangchang may still decide to maintain holding.
People familiar with the matter said that at the annual meeting of Debon Securities in February this year, Guo Guangchang revealed to his employees his intention to reduce his holdings.
Guo Guangchang did not respond to emails seeking to comment.Debon Securities and Fosun International's media representatives did not reply to requests to seek comment.Guo Guangchang is the chairman and controlling shareholder of Fosun International.
According to the latest statistics of the China Securities Industry Association, Debon Securities, which was established 20 years ago, the total assets in 2021 ranked 66th in the Chinese securities industry.
According to the latest financial report of Debon Securities, as of last year, Guo Guangchang held 94%of the equity of Debon Securities.
Fosun International's net profit last year dropped by 95%. Since May last year, about $ 4.8 billion (S $ 6.4 billion) assets have been sold, and it is seeking to further sell billions of dollars assets.This helped boost the company's stock and bond prices. Fosun International's debt concerns last year caused its stock bond prices to plummet.
