Ahead of China International Capital Corp.'s (CICC) (3908.HK; 601995.SH) highly anticipated Shanghai listing in late 2020, an investment vehicle of home appliance maker Haier bought a nearly 10% stake in China’s oldest investment bank. The long romance between the pair now appears to be winding down, with Haier Group (Qingdao) Jinying Holding Co. disclosing late last week that it completed a share reduction plan by cutting its stake to 6.32%, from a previous 8.26%.
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