TOKYO: The Chinese founder of the world’s biggest maker of electric-vehicle batteries and his top lieutenant became billionaires after their company’s shares soared during the first day of trading in Shenzhen.
Contemporary Amperex Technology Co Ltd jumped by the maximum 44% allowed by the exchange, valuing the company at about US$12.3bil. That cemented the position of Zeng Yuqun, CATL’s founder and top shareholder, on China’s rich list with an estimated net worth of about US$3.4bil, according to the Bloomberg Billionaires Index.
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