Hanwang float makes owners rich overnight

BEIJING - Liu Yingjian, founder and chairmen of China's largest electronic handwriting recognition company had a key business goal fulfilled on Wednesday with the listing of his company, Hanwang Technology Co Ltd, on the stock market after years of delays.

Floating 27 million shares on the Shenzhen Stock Exchange, Hanwang yesterday saw its share price spike 96 percent from the issue price of 41.9 yuan to end at 82.1 yuan.

Liu and his wife Xu Dongqing together own 36.45 percent of Hanwang. The success of the company's listing is said to have made the couple nearly billionaires overnight, with their combined wealth reaching 808 million yuan.