It caps a remarkable run that has seen the former opera performer's premium powders and lotions defy the nation's consumer slowdown.
His skincare and cosmetics firm Mao Geping Cosmetics, which listed on Dec 10, raised HK$2.3 billion, or about US$300 million (S$402 million), in its initial public offering (IPO) after upsizing the deal, according to a filing to the Hong Kong stock exchange.
The first Chinese cosmetics brand to list in the city, it is set for the biggest first-day increase among companies that listed in Hong Kong after IPOs of at least US$300 million over the past three years.
This has given the 60-year-old make-up wizard and his wife Wang Liqun, the company's vice-chairwoman, a fortune of about US$1.4 billion based on the opening price of HK$47.65, according to the Bloomberg Billionaires Index.
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