Procter & Gamble – China Poised To Mint A Cleaning soap Billionaire
Pedestrians carrying protecting masks stroll previous an digital ticker on the Hong Kong Stock Change. … [+]
The deliberate itemizing on the Hong Kong Stock Change this month by certainly one of China’s largest suppliers of house cleaners will, if profitable, mint a brand new billionaire and an addition to ranks of the nation’s richest ladies.
Guangzhou-headquartered Blue Moon Group mentioned in a prospectus on Friday that it goals to promote 747 million shares in a price vary of HK$10.20 to HK$13.16.
Primarily based on the decrease providing price, the 4.Four billion shares held by chairman Pan Dong can be worth $5.eight billion. Pan, 55, is the spouse the corporate’s 57-year-old founder and CEO Luo Qiuping.
Blue Moon is the highest vendor in China’s liquid laundry detergent and liquid cleaning soap market, in response to the corporate’s web site. It competes with Unilever and Procter & Gamble.
China is house to the world’s second-largest variety of billionaires after america.
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—Elaine Mao
@rflannerychina
