Companies Backed by Tycoon and Under Investigation to Unload More Assets
A group of companies controlled by tycoon Xiao Jianhua, the founder of conglomerate Tomorrow Holding Group, has agreed to sell a substantial stake in Hong-Kong listed Hengtou Securities Co. for 9 billion yuan ($1.38 billion).
Xiao, who has been assisting authorities with unspecified investigations since January and whose whereabouts have been unconfirmed since then, has been shedding assets.
- 1Power To The People: Pintec Serves A Booming Consumer Class
- 2Largest hotel group in Europe accepts UnionPay
- 3UnionPay mobile QuickPass debuts in Hong Kong
- 4UnionPay International launches premium catering privilege U Dining Collection
- 5UnionPay International’s U Plan has covered over 1600 stores overseas