After Meteoric Rise Hanergy Founder Forced To Sell at 95% Discount

Hanergy Thin Film Power Group’s founder and chairman has sold a 6% stake at a 90% discount to the solar equipment maker’s last traded price in May. The latest sale takes the valuation of the embattled solar technology firm down to just $1.2 billion. Li Hejun trims stake in Hanergy Regulatory filings reveal that Hanergy’s chairman, Li Hejun, agreed to sell 2.5 billion shares to unidentified buyers at an average of 0.18 yuan or 2.15 Hong Kong cents. The sale is almost 95% below the last traded level in Hong Kong. Alex Gardner, an analyst at Bloomberg Intelligence, believes the latest sale…