Of the two dozen or so companies that started trading in China this week, at least three produced new billionaires
That may become even more common as China seeks to liberalise its capital markets. Companies on Shenzhen’s ChiNext tech board no longer have trading limits during their first week, similar to the one-year-old Star board in Shanghai. The 18 firms that listed on ChiNext on Monday gained an average 212% by the close.
Contec sells products including oximeters, ultrasound equipment and medical monitors to more than 130 countries, including the US, India and Canada. Revenue climbed 6.8% in 2019 to 387-million yuan , with 73% coming from abroad, according to the company’s prospectus.Monday’s IPO frenzy boosted other fortunes, including that of Steven Yang. The founder and chief executive officer of phone-charger maker Anker Innovations Technology is now worth $3.
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