Investors were informed on the steps via a notice on Fanya’s trading software platform on Wednesday morning, which said the move would apply throughout an equity restructuring period that it was undergoing.
“It’s very strange. Fanya signed the equity restructuring contract on July 10, announced it had stopped the business of the Ri Jin Bao [main Fanya exchange] on July 12, and then recommended us to switch to Fanrong
, now, one month later, it has announced the equity restructuring and Fanrong investors also cannot get any money!” a Shanghai-based investor said.
“[It now appears that] when we...