Nongfu Spring kicks off $1bn Hong Kong IPO

By Jonathan Breen
25 Aug 2020

Chinese bottled water and beverage company Nongfu Spring has opened books for its HK$8.35bn ($1.08bn) IPO of H-shares on the back of support from state funds in the Mainland and Singapore.

Nongfu hit the road on Tuesday morning in Hong Kong after a week of pre-marketing. Sponsors CICC and Morgan Stanley are running the show, alongside global co-ordinator Citi and bookrunner CLSA.

The issuer is floating 388.2m shares at HK$19.50 to HK$21.50 apiece, targeting proceeds of HK$7.57bn to ...

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