BEIJING (Reuters) - Fosun International is in communication with lenders, investors and ratings agencies as its chairman assists authorities with an investigation, the company's chief executive said on Sunday.
Speaking on a conference call, chief executive Liang Xinjun reiterated that Chairman Guo Guanchang was able to take part in major decisions involving the company and that the firm's operations remained normal. He added the company was "not in crisis", and its financial situation was "very healthy".
The company would consider buying back shares or increasing holdings of the company's stock if the share price fluctuated, he said.
Fosun said on Friday that Guo, one of China's best-known entrepreneurs, was assisting authorities with an investigation, a day after local media said the group had lost contact with its billionaire founder.
(Reporting by Kathy Chen and Nick Heath; Editing by Alex Richardson)
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors


Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share


Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor


Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements


Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
