A lady walks down a flight of stairs on the Shenzhen Stock Alternate in 2019. Photographer: Qilai … [+] Shen/Bloomberg
Nowadays’s listing on the Shenzhen Stock Alternate by Greenworks (Jiangsu), a dealer of house, yard and operate-it-your self tools, has minted a new billionaire.
Chairman Chen Yin holds a stake of larger than 55% in the company value 9.9 billion yuan, or $1.5 billion, in early afternoon procuring and selling. Shares rose 17% from their IPO ticket to 36.22 yuan.
Chen, born in in 1973, founded Greenworks in 2002. The corporate has bigger than 7,000 employees and manufacturing facilities in China, the U.S. and Vietnam.
Chen holds an undergraduate diploma in engineering from China’s Donghua University and a MBA from Warwick University.
China is house to the realm’s 2d-finest desire of billionaires after the US.
— with Julie Lu
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@rflannerychina
