China Poised To Mint A Soap Billionaire

The planned listing at the Hong Kong Stock Exchange this month by one of China’s largest suppliers of home cleaners will, if successful, mint a new billionaire and an addition to ranks of the country’s richest women.

Guangzhou-headquartered Blue Moon Group said in a prospectus on Friday that it aims to sell 747 million shares in a price range of HK$10.20 to HK$13.16.

Based on the lower offering price, the 4.4 billion shares held by chairman Pan Dong would be worth $5.8 billion. Pan, 55, is the wife the company’s 57-year-old founder and CEO Luo Qiuping.

Blue Moon is the top seller in China’s liquid laundry detergent and liquid soap market, according to the company’s website. It competes with Unilever and Procter & Gamble.

China is home to the world’s second-largest number of billionaires after the United States.

Click here for a Chinese-language version of this story.

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—Elaine Mao

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