China Makeup Mogul Is a Billionaire Post Hot Hong Kong Debut (1)

China’s renowned makeup artist Mao Geping became a billionaire as his beauty company soared as much as 92% in its trading debut in Hong Kong, delivering the biggest first-day gains among firms that raised at least $300 million by selling shares in the past three years.

His skincare and cosmetics firm Mao Geping Cosmetics Co., which listed Tuesday, raised HK$2.3 billion (about $300 million) in its initial public offering after upsizing the deal, according to a filing to the Hong Kong stock exchange. The shares closed up 77% for the day, capping a remarkable run for Mao’s premium powders ...