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Prisemi IPO Mints China’s Latest Semiconductor Industry Billionaire

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China added its latest billionaire from the semiconductor industry on Wednesday following the listing of Shanghai Prisemi Electronics at the Shanghai Stock Exchange.

Shares in the company rose by 53.81 yuan to close at 188.62 yuan, compared with their IPO price of 134.81 yuan.  That left chairman Ou Xinhua’s stake worth 7.9 billion yuan, or $1.2 billion. Click here for the Chinese-language prospectus.

Will Semiconductor Chairman Yu Renrong is currently China’s richest man from the semiconductor industry with a fortune worth $12.2 billion on the Forbes Real-Time Billionaires List today.

China is home to the world’s second-largest number of billionaires after the United States.

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—with Steve Shao and Maggie Chen