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China's IPO billionaires

A rousing market rally in the first six weeks of the year hatched some two dozen billionaires

Hong Kong

CHINA'S world-best stock market rally made January the busiest month for IPOs in a year. It also created a bundle of new billionaires.

In the first six weeks of 2015, the world's second-biggest economy hatched about two dozen billionaires, many of whom are riding initial public offerings that investors are driving to their daily price-trading limits - a frenzy that harkens back to the IPO market of the late 1990s. Among the high-fliers are an airline, a video-game developer and a drugstore chain.

"IPOs have become very hot investment products in China," said Ronald Wan, chief China adviser at Hong Kong-based Asian Capital Holdings Ltd, a Hong Kong-based corporate advisory firm. "So all...

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