The Warren Buffett of China, whose company just posted a 95% dip in annual profits, is selling billions of dollars of assets — but he says it's 'only pathetic if no one wants what we offer'
in the parent company of Nanjing Iron & Steel to a state-owned Chinese conglomerate called Citic for 13.58 billion yuan after a plan to sell that stake to Jiangsu Shagang Group Co fell through."It's not pathetic that we are selling assets," he said at an entrepreneur forum in March, per Bloomberg.
"It's pathetic only if no one wants what we offer," he added.Hong Kong stock exchange-listed Fosun International's shares haveto 5.4 Hong Kong dollars, or $0.7, apiece on Tuesday, from a low of 4.6 Hong Kong dollars in September. They're still down from about 7.8 Hong Kong dollars in late January. Fosun International's market capitalization is around 44 billion Hong Kong dollars now.
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