Shares in Jumei International Holding, one of China’s largest online cosmetics websites, climbed more than 11% in their U.S. IPO today, generating the country’s latest billionaire. Chairman Leo Chen holds about 41% of the company, according to Jumei’s prospectus. His holding was worth $1.2 billion just ahead noontime in trading [...]
Online Cosmetics Site Jumei's IPO Spawns China's Newest Billionaire
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