SINGAPORE: Kuok Khoon Hong pulled off a remarkable second act. The billionaire sold shares of his China business in the biggest ever initial public offering (IPO) on the Shenzhen Stock Exchange, thanks to the most popular cooking oil brand in the country.
Kuok’s Yihai Kerry Arawana Holdings Co almost doubled when the stock debuted on the ChiNext board yesterday after its IPO raised 13.9 billion yuan (US$2bil).
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