Divorce costs richest woman her title

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CHINA'S richest woman Wu Yajun, president of Longfor Properties, has divorced from her husband Cai Kuichao and given Cai company shares worth more than 20 billion HK dollars (US$2.58 billion).

The Hong Kong Economic Journal reported that Wu and Cai held 75.6 percent of Longfor's stocks but in August they split their holdings into 45.4 percent for Wu and 30.2 percent for Cia. Wu is still the biggest shareholder of the company.

Wu topped the 2012 Hurun List of Self-Made Women Billionaires and became the richest woman in China with a net worth of 38 billion yuan.

Longfor's share price rose 3 percent to 14.3 HK dollars yesterday. That means Cai's holdings are worth more than 200 HK dollars.

A Longfor Properties spokesperson recently admitted to the couple's divorce, but said it would not affect the company's stock price and operation. Their shares are held by two separate trust companies since the company was listed. Cai has no duty in the company.

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