Shinsun IPO Mints New China Real Estate Billionaire Family


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Shinsun Holdings Group’s IPO at the Hong Kong Stock Exchange this Wednesday created a new China … [+] billionaire family. Photographer: Roy Liu/Bloomberg © 2020 Bloomberg Finance LP The start of Hong Kong trade on Wednesday by real estate developer Shinsun Holdings Group has formally minted a new China real estate billionaire family. Shanghai-headquartered Shinsun’s stock ended the day today at HK$5.60, little changed from its IPO price of HK$5.59. The 79% stake held by a family trust controlled by Shinsun’s 69-year-old chairman Chen Guoxiang and family was worth $1.7 billion today. Chen’s wife Zhu Guoling, is a co-founder. Son...