Yuan's gamble on Everbright pays off

SHANGHAI: The initial public offerings (IPO) are often considered to be the breeding grounds for instant fortunes, but it often hinges on the ability of the investor to choose the right stocks at the right time.

Yuan Dezong, owner of the privately held Dongguan-based Guanghui Sci-tech Investment and Guaranty Co is one such investor who made a fortune and entered the rich list in China after the recent listing of Everbright Securities shares.

"When the 50-year old Yuan decided to invest in Everbright Securities in 2004, the securities firm was teetering towards bankruptcy. His perseverance and the manifold increase in his investments proves he is extremely good at investment planning," a manager of a listed company told the Shanghai-based Amoney Weekly.