Ningbo Tuopu’s Chairman Wu Becomes New Billionaire on DebutJill Mao
Wu Jianshu, chairman of Ningbo Tuopu Group Co., a Chinese auto-parts manufacturer, became a billionaire as the stock jumped by trading limit in its debut on Thursday.
Wu, who’s a Hong Kong citizen, has a net worth of $1.3 billion, according to the Bloomberg Billionaires Index. He owns about 74 percent of the company. The stock rose 44 percent to 16.37 yuan at the close in Shanghai.