China Guardian founder takes largest shareholding in Sothebys
The largest shareholder in Beijing’s China Guardian Auctions has also become the largest single shareholder in Sotheby’s. Cheng Dongshen, chairman and chief executive of Taikang Life Insurance, purchased $230m or 8m Sotheby’s shares across June and July and now has a 13.5% stake.
In a filing with the US Securities and Exchange Commission, Taikang Life cited a “positive view” of …