Hot China IPO Market Creates New Life Science Billionaire

Following the recent IPO of medical device maker Jafron Biomedical, China has a new billionaire, Fan Dong, the company's Chairman, CEO and owner of a 48% stake in the company. Jafron made its debut on the Shenzhen Stock Exchange 11 trading days ago, raising $69 million. The IPO price was 10.8 yuan. Since then, the price has more than tripled, rising to 36.7 yuan. Dong's holdings, nearly half the company, are worth $1.1 billion. Jafron makes disposable cartridges that purify the blood and are used mainly as an adjunct to hemodialysis. The company is headquartered in Zhuhai, Guangdong Province. More details.... Share this with colleagues: // //