Cancer Drug Supplier’s IPO Mints China’s Latest Billionaire
In the present day’s itemizing on the Shanghai Inventory Alternate by Sichuan Biokin Pharmaceutical, a provider of most cancers medication, has minted China’s newest billionaire.
Chairman Zhu Yi instantly owns 298.1 million shares, price 10 billion yuan, or $1.5 billion in early afternoon buying and selling. Shares rose 36% from their IPO worth to 33.69 yuan.
Zhu holds an undergraduate diploma in radio know-how, in addition to a grasp’s diploma in biology from Fudan College and a doctorate in administration from Sichuan College. He taught immunology and microbiology at West China Medical College in 1987-1990.
Zhu based Biokin in 1996. It operates within the U.S. by way of a Redmond, Washington-based subsidiary, Systimmune. China securities regulators accredited Biokin’s IPO in December.
The nation and the U.S. rank No. 1 and No. 2 within the variety of most cancers sufferers and general most cancers burden. China is dwelling to the world’s second-largest variety of billionaires after the USA.
— with Julie Lu
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