The shares of China Environmental Technology Holdings Ltd (HK:0646) bounced back 9.62% to HK$0.057 on Monday morning, after a nearly 50% slide on Friday. The plummet came after the company’s second-largest shareholder escaped Hong Kong police on the same day, according to sources cited by the South China Morning Post.
According to CET’s interim report, second largest shareholder Leon Li held a 19.74% stake in the company. He is the owner of a company named Options Inc., which is the parent company of fertility medical treatment provider Pacific Fertility Institutes Holdings Company Limited (PFI).
Local media sources reported that the 34-year-old was arrested in Hong Kong in 2015 for using a falsified document to apply for a U.S. visa. During the trial, he skipped bail and escaped to the Dominican Republic. After that, he used his “authentic documents” to enter Hong Kong again as Leon Li.
