“Beleaguered Hanergy Thin Film Power chairman Li Hejun has agreed to sell HK$537 million worth of the firm’s shares at a 94.5 per cent discount as the firm struggles amid a regulatory probe. The company’s shares are traded on the stock exchange in Hong Kong dollars. They last traded at HK$3.91 on May 21, when trading was abruptly halted on the firm’s request after they plunged 47 per cent in about an hour. The SFC in June demanded from Hanergy audited financial statements of its parent Hanergy Holding for the past four years and detailed terms of outstanding loans taken out by Li. But Hanergy said it could not meet the SFC’s request for financial statements.”
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