Asia's most expensive divorce, woman became mistress of billions overnight

Jun 02 2020 03:54 PM
Asia's most expensive divorce, woman became mistress of billions overnight

New Delhi: A woman has become the new billionaire after Asia's most expensive divorce. In a May 29 filing by Du Weimin, the chairman of China's Shenzhen Kangtai Biological Products company, Du Weimin has transferred 161.3 million shares of the company to his ex-wife, Yuan Liping. Due to this, she became one of the most rice people in the world overnight. The stock was valued at $ 3.2 billion until its closing on Monday.

This year, the 49-year-old Yuan is the sole owner of these shares, but signed an agreement giving her ex-husband the voting rights. She is a Canadian citizen, now living in Schengen. He served as director of Contai between May 2011 and August 2018. He is now deputy general manager of assistant Beijing Minhai biotechnology company Yuan, he received a bachelor's degree in economics from Beijing University's International Business and Economics.

The price of Kangtai's shares has more than doubled in the past year. Their prices have continued to rise since February, when the company announced plans to develop a vaccine to fight the coronavirus. But, on Tuesday, his company's stock prices plummeted after news of the terms of the divorce. Hong Kong lost 3.1 per cent till 9:43 am and the company's market value fell to $ 12.9 billion.

56-year-old Du was born into a peasant family in Jiangxi Province, China. After studying chemistry at the college, he began working in a clinic in 1987 and became a sales manager at a biotech company in 1995, according to a prospectus for an early 2017 public offering from Kongtai. In 2009, Kongtai acquired Minhai. Du Company was founded in 2004 and became the head of the combined entity.

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