China Renaissance Holdings shares fell as much as 5 percent after clawing back some losses earlier.
Shares of China Renaissance Holdings, the boutique investment bank founded by missing tech dealmaker Bao Fan, have fallen as much as 5 percent after earlier recovering from record losses.
After gaining as much as 3.5 percent early Monday, the Hong Kong-listed stock gave up gains and fell as low as HK$6.82 ($0.87).
The share price hit an all-time low of HK$5 ($0.64) on Friday before recovering somewhat to close at HK$7.18 ($0.92), down 28 percent.
China Renaissance, founded by Bao in 2005, said Thursday it could not reach its chairman but its activities continued as normal.
Bao, a high-profile investment banker known for overseeing mergers between Chinese tech giants Didi and Meituan, is the latest in a long line of prominent businessmen missing in China, where authorities are holding suspects for extended periods without charge or access can legal representation.
Chinese-Canadian billionaire Xiao Jianhua disappeared from public view for five years after being kidnapped from his Hong Kong hotel by suspected Chinese security agents in 2017, before reappearing in mainland China five years later to face corruption charges.
Yim Fung, the head of Chinese broker Guotai Junan International, disappeared for more than a month in 2015 before returning to his company after “helping with certain investigations”.
Jack Ma, the founder of tech giant Alibaba, disappeared from public view for a year after making critical comments about China’s financial regulators before reappearing in late 2021.
Bloomberg News reported Friday that Bao’s family was told the investment banker was helping with an investigation, citing an unnamed person familiar with the matter.
Chinese President Xi Jinping has led a sweeping crackdown on corruption since coming to power in 2012.
Critics have accused Xi, who has consolidated more power than any Chinese leader since Mao Zedong, of using the anti-corruption campaign as an excuse to purge political rivals.