Following the recent IPO of medical device maker Jafron Biomedical, China has a new billionaire, Fan Dong, the company's Chairman, CEO and owner of a 48% stake in the company. Jafron made its debut on the Shenzhen Stock Exchange 11 trading days ago, raising $69 million. The IPO price was 10.8 yuan. Since then, the price has more than tripled, rising to 36.7 yuan. Dong's holdings, nearly half the company, are worth $1.1 billion. Jafron makes disposable cartridges that purify the blood and are used mainly as an adjunct to hemodialysis. The company is headquartered in Zhuhai, Guangdong Province.
