Opple Soars on Debut, Underscoring China's Growing Clout in Lighting Industry - Energy Watch News

Opple Soars on Debut, Underscoring China’s Growing Clout in Lighting Industry

Shares in Opple, the lighting maker controlled by China billionaire couple Ma Xiuhui and Wang Yaohai, soared by their 44% upper limit on debut at the Shanghai Stock Exchange. Ma and Wang hold 41.9% and 40.5% of Opple after the company’s IPO, worth a combined $1.6 billion, at 8/19 closing price. Opple – which means “European standard” in Chinese — issued 58 million new shares at $131.3 million. Opple’s sales rose by more than 8% to $680 million last year; the couple ranked No. 128 on the 2015 Forbes China Rich List with a fortune worth $1.7 billion. Opple’s success underscores Asia’s and China’s growing shares of global lighting sales and manufacturing that were once dominated by Western consumers and manufacturers. http://www.forbes.com

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