China bottled water producer Nongfu Spring sparkles in Hong Kong debut

Nongfu Spring

08/09/2020 03:05

** Shares of Chinese bottled water and drinks producer
Nongfu Spring Co Ltd  9633.HK  rise as high as HK$39.85 in Hong
Kong debut, up 85.3% from the IPO price of HK$21.50 per share
    ** Stock last up 65.1% at HK$35.50, and the most actively
traded by turnover in early trade
    ** Nongfu sold 388.2 mln shares, raising $1.1 bln for brand
building, expansion of production capacity and to repay bank
loan  urn:newsml:reuters.com:*:nL4N2FX0S0
    ** Nongfu has attracted the strongest-ever response from
retail investors in Hong Kong IPOs in terms of subscription
value, with the retail tranche 1,148 times covered attracting
HK$670.8 bln of subscriptions  urn:newsml:reuters.com:*:nL4N2G40W9
    ** The Hang Seng China enterprises index  .HSCE  rises 0.7%,
and the benchmark index  .HSI  gains 0.4%

 (Reuters Messaging: donny.kwok.thomsonreuters.com@reuters.net)