The founder of a Chinese cookie maker has gotten richer with a proposal to take the Hong Kong-listed firm private.
Xu Shihui, chairman of Dali Foods Group Co., has seen his fortune soar by $1.2 billion to $7.3 billion on paper, after a 29% surge in shares following his offer last week, according to the Bloomberg Billionaires Index.
Rongshi International, a vehicle wholly owned by the billionaire, proposed to buy outstanding shares at HK$3.75 per share, representing a 38% premium to its last close before the offer.
Read the full story on Bloomberg here.