BaWang IPO debut set to shower money on founder couple

Today, when BaWang Group makes its Hong Kong stock exchange debut, the firm's founding chairman Chen Qiyuan and CEO Wan Yuhua will become the richest couple in shampoo business circles on the mainland.

According to sources close to the Guangzhou-based company, BaWang is expected to raise funds worth 1.67 billion yuan by issuing 700 million shares on its first trading day today. This is projected to push up the couple's wealth to HK$5 billion.

"We expect the IPO to help us develop faster and internationalize our brand," said Wan.