Landmark Singapore IPO Turns Professor Into Multimillionaire

(Bloomberg) — Shi Xu moved to Singapore in the early 1990s, hoping for financial stability and job security. Now the former academic and his wife are multimillionaires after their nanotechnology company debuted in the city-state.Nanofilm Technologies International Ltd., which provides solutions for smartphones and other electronics, opened at S$2.77 ($2.03) from its initial public offering price of S$2.59 a share and rose as much as 14% by 10:49 a.m. local time. Shi’s fortune, mainly made up of the 53% Nanofilm stake he holds with his wife, has surged to almost $930 million, according to the Bloomberg Billionaires Index. The company …read more

Source:: Yahoo Finance