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Turns out the former Chinese billionaire whose solar company just imploded was shorting his own stock
APLi Hejun, chairman and CEO of Hanergy Group.It turns out the man presiding over the implosion of one of China's stock-market darlings was on the right side of the trade. Li Hejun, chairman of Hanergy Thin Film Solar Group Ltd, added to a short position in his own company's stock days before it collapsed, Bloomberg reports. "Li bought 26.4 million Hanergy additional shares at an average of HK$7.28 each on May 18, according to two separate filings to Hong Kong Exchange on Friday. He also increased his short position to 7.71% of Hanergy's issued share capital from 5.81% on the same day," the report said. The fall of ... (full story)
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