Hanergy’s Li Hejun Added to Short Position Days Before Plunge
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Hanergy Thin Film Solar Group Ltd. Chairman Li Hejun increased the size of his short position in the company’s shares days before the stock plunged, effectively betting the value of the manufacturer he founded would fall.
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 percent of Hanergy’s issued share capital from 5.81 percent on the same day.