Guangdong By-Health Biotechnology Co., a maker of health care products, will offer an IPO on the Shenzhen exchange today at the price of 110 yuan ($16.52), setting a record price on the ChiNext, the Nasdaq-style board.

Emboldened by strong investor interest, the company, known for its nutritional supplements, plans to raise up to 1.5 billion yuan ($225 million). Initially projections were 280 million yuan ($42 million).

The IPO will boost the wealth of majority shareholder Liang Yunchao, who holds 31.43 million shares, to 3,458 million yuan ($519 million).

China's business press carried the story above on Wednesday. China.org.cn has not checked the stories and does not vouch for their accuracy.

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