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Divorce Sends Chinese Shampoo Maker on Roller Coaster Ride

  • Wife of BaWang chairman seeks to wind up controlling firm
  • BaWang revenue has plunged more than 80% since 2009 IPO
BaWang products.

BaWang products.

Photographer: Nelson Ching/Bloomberg
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BaWang International Group Holding Ltd., known for a shampoo commercial featuring movie star Jackie Chan, surged as much as 32 percent in Hong Kong after plunging 31 percent Wednesday amid a divorce between its husband-and-wife founders.

Wan Yuhua, former chief executive and wife of chairman Chen Qiyuan, said in tears at a Wednesday briefing that she is divorcing Chen and seeking Hong Kong courts to liquidate a company that controls BaWang. Wan is a shareholder of Fortune Station, which owns about 60 percent of BaWang, according to the company’s interim report published in September.