on Tuesday, saw his wealth explode as the company he founded more than 25 years ago raised at least $300 million in the initial public offering.Stock Exchange. The shares opened at 47.65 Hong Kong dollars, or $6.13, and closed up at 52.6 Hong Kong dollars, or $6.70.
Mao and his wife, Wang Liqun, who serves as the company’s vice chairperson, jointly hold a 45 percent stake in the label, both directly and via investment entities.competitors as the only Chinese company in the high-end cosmetics playing field, according to the company prospectus. In 2023 the company had a market share of 1.8 percent in
Mao, a trained Yue Opera performer, found his true calling as a makeup artist in the troupe after a voice change that shattered his career prospects as a singer. He became one of the first celebrity makeup artists in the country, known for his work in period dramas.