Chinese building products firm Yulong Eco-Materials plans to finance its purchase of a $75m Michelangelo painting through the issuance of restricted company shares. The company, which is based in Beijing, has been accused by some art experts and politicians of using illegal methods for acquiring artworks from abroad.
Chinese building products firm Yulong Eco-Materials plans to finance its purchase of a $75m Michelangelo painting through the issuance of restricted company shares. With 7.5 million shares, each at the price of $10, anyone with brokerage account can become a fractionalised owner of a Renaissance masterpiece, Yulong said.