Li Li, founder and chairman of Shenzhen Hepalink Pharmaceutical Co.
On Wednesday, founders of drugmaker Shenzhen Hepalink Pharmaceutical Co Ltd lost the title of the richest people on the Chinese mainland as their shares slumped for three consecutive days, chinanews.com.cn reported Thursday.Shares of Hepalink, the world's biggest maker of blood-thinning heparin products, fell 8.34 percent to close at 132.22 yuan on Wednesday. Since its stock market debut on May 6, share prices jumped from a record initial public offering price of 148 yuan in the first two days, but began to plunge on the third trade day Monday.
The wealth of the company's founders, the couple Li Li and Li Tan, fell by 12.4 billion yuan over the past three days to 38 billion yuan. They hold 288 million shares.
The plunge has prompted the couple to lose the title of the mainland's richest to Wang Chuanfu, chairman of electric car manufacturer BYD, China's richest person in 2009 with a fortune of 39.6 billion yuan, according to the 2009 Forbes China Rich List.
