China’s billionaires’ club has added a clutch of new members after Shanghai’s latest tech stock market generated an unprecedented rally for its first batch of listings, underlining domestic investors’ enthusiasm for the country’s answer to Nasdaq.

The 25 companies that debuted on the so-called Star market on Monday rose an average of 140 per cent in the first trading day, taking the paper value of shareholdings by three of those companies’ individual investors above $1bn each, according to the Bloomberg Billionaires Index.

Chen Wenyuan, chairman and holder of a 74 per cent stake in Suzhou HYC Technology, which produces flat-panel displays, saw the value of his stake jump 129 per cent to $2.4bn; the 68 per cent stake of chairman Cao Ji in Zhejiang Hangke Technology, a maker of battery testing equipment, shot up 99 per cent to $2.2bn; and at imaging technology company ArcSoft a 34 per cent stake held by majority shareholder Deng Hui rose 127 per cent to $1.3bn.