SICC Listing Mints New China Tech Billionaire

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The listing of shares in silicon-carbon semiconductor materials maker SICC on the Shanghai Stock Exchange this week has minted a new China semiconductor industry billionaire.

In its first trade on Wednesday, SICC closed at 85.50 yuan, up 3.3% from its IPO price of 82.79 yuan. Chairman Jong Yanmin held 10.7 billion yuan, or $1.7 billion in shares.

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Established in 2010, SICC is headquartered in Jinan City, East China. According to the company’s prospectus, Zong is a Chinese citizen with permanent residence in Australia.

China is home to the second largest billionaires in the world after the United States.

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