Geely founder takes 20 pct stake in HK's Guorun

Newswire

HONG KONG, Jan 6 (Reuters) - The founder and chairman of China's sole private carmaker Geely Group, has bought an indirect stake of 20 percent in Guorun Holdings amid speculation that Geely will seek a backdoor listing via its Hong Kong-listed venture partner Guorun.

Guorun said in a statement on Tuesday that Sapient Group, privately owned by Geely's Li Shufu, had bought a 32 percent stake in Guorun's parent Proper Glory Holdings Inc.

Proper Glory holds about 60.68 ...

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