It’s been a rough stretch this year for China stocks owing to Covid fallout and other woes, yet a new listing at the Shenzhen Stock Exchange by an eyecare chain on Monday has yielded a new billionaire in the country this week.
Shares in Huaxia Eye Hospital Group closed at 71.47 yuan today; that’s up from Huaxia’s IPO price of 50.88 yuan. Chairman Su Qingcan held shares worth 22 billion yuan, or $3.1 billion, at the end of the day.
Huaxia, headquartered in Xiamen, has eyecare treatment facilities in 17 provinces and 46 cities in China. It also serves patients in Cambodia, Laos, Myanmar, Nepal and Sri Lanka, according to the company’s website.
China’s wealthiest entrepreneur in the eyecare field is Chen Bang, chairman of the Aier Eye Hospital Group. Chen has a fortune worth $11.5 billion on the Forbes Real-Time Billionaires List.
China is home to the world’s second-largest number of billionaires after the United States.
— with Julie Lew
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