Shenzhen Kangtai Biological Products, a vaccine company, raised a modest $20 million six weeks ago in an IPO on the Shenzhen Chi-Next Exchange. The initial reaction in public trading was similarly subdued, but in the six weeks since then, Kangtai’s stock price has climbed steadily, rising from its offering quote of 3.29 RMB to 40.51 RMB today -- a 12-fold return in under a month and a half. Its Chairman, Weimin Du, who owns 56% of the company, is now a China biotech billionaire, his holdings in the company worth $1.3 billion.
