Shanghai Fosun Pharmaceutical (Group) Co. Ltd. late on Friday said company chairman Guo Guangchang is assisting a legal investigation after news that Guo had "disappeared".

In a brief statement on its website, Fosun said Guo was still participating in major decisions of the company "in proper ways", and the event will not have any significant negative effect on the group.

Guo, "China's Warren Buffett," has been missing since Thursday. Many linked his disappearance to an investigation by authorities.

Shares related to conglomerate Fosun were suspended from trading on Friday following the rumors. A number of related stocks including Hainan Mining, Nanjing Iron & Steel Co., and Shanghai Ganglian were also suspended on the Shanghai and Shenzhen exchanges. Fosun is the major shareholder of all three companies.

In the Friday statement, Fosun said its shares in the A-share market would resume trading on Dec. 14.

Fosun is one of China's biggest private conglomerates. It has interests in pharmaceuticals, real estate, private equity, steel and mining.

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