Ningbo Tuopu’s Chairman Wu Becomes New Billionaire on Debut

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.

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