Billionaires
China Tech Tycoon’s IPO Fortune Soars on Stimulus Rally
- Intsig Chairman Zhen Lixin’s net worth hits $876 million
- Shanghai-listed firm has surged since Sept. 26 debut
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The timing of Intsig Information Co.’s initial public offering couldn’t have been much better — for the Chinese technology firm or its chairman’s personal fortune.
Just days before its Sept. 26 listing in Shanghai, which raised 1.38 billion yuan ($195 million), President Xi Jinping’s government announced an aggressive series of stimulus measures that unleashed a euphoric market response.