Date
25 September 2017
Johnson Ko says he may give up the chairman's post at ReOrient Group. Photo: HKEJ
Johnson Ko says he may give up the chairman's post at ReOrient Group. Photo: HKEJ

Johnson Ko indicates he may step down as ReOrient chairman

Securities industry veteran Johnson Ko Chun-shun said he might step down from the chairman’s post at ReOrient Group Ltd. (00376.HK) after an 18-month share lockup period expires, the Hong Kong Economic Journal reported Wednesday.

ReOrient Group, which is engaged in financial services, has recently drawn some new investors including Alibaba Group chairman Jack Ma. 

Ma has invested in the company via his 40-percent owned Yunfeng Financial Holdings Ltd., becoming ReOrient’s largest shareholder.

Ko was among those who sold their shares to the mainland billionaire. 

ReOrient will tap into internet finance, Ko said, citing the need for securities firms to leverage internet technology given the rising capital inflows to Hong Kong.

Ko reiterated that he does not know Ma personally. His continuance in the chairman’s post at ReOrient will depend on the view of the company’s new largest shareholder, he said.

Ko still holds some ReOrient shares that are subject to an 18-month lockup. 

Frontier Services Group Ltd. (00500.HK), a company which Ko partially owns, had earlier offloaded some ReOrient shares.

Ko has turned active lately in the capital market, involving himself in private placement deals of 21 Holdings (01003.HK) and China Star Cultural Media Group (08172.HK).

Translation by Vey Wong

[Chinese version中文版]

- Contact us at english@hkej.com

VW/JP/RC

Hong Kong Economic Journal

EJI Weekly Newsletter

Please click here to unsubscribe