China’s focus on technology self-reliance has minted a new billionaire as investors pile into the shares of semiconductor component maker Chongqing Genori Technology. The firm’s shares have soared almost 1,200% from its initial public offering price within days of its Wednesday market debut in Shanghai, leading Chairman and CEO Wang Bing to amass a fortune of $4.7 billion, according to Forbes estimates.

The 46-year-old entrepreneur derives his wealth from a company stake. His wife, Xia Bing, a 45-year-old company director tasked with improving efficiency, has a net worth of $490 million based on her own stake, Forbes estimates show. Chongqing Genori didn’t respond to a request for comment.

Established in 2016, the company raised 1.7 billion yuan last week ($254.8 million) by selling 38.8 million shares at 44.6 yuan apiece, with the retail tranche of the IPO oversubscribed more than 6,000 times,........

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