Nongfu Spring's market value exceeded HK $370 billion on its first day
date:2020-09-08
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Keyword: Nongfu Spring's ,HK $370 billion

On September 8, Nongfu Spring was listed on the main board of the Hong Kong Stock Exchange under the share code 9633 at THE offering price of HK $21.5 per share. By the close, the stock was up 53.95% at HK $33.1, giving it a market capitalisation of more than HK $370bn.

 

Nongfu Spring will raise about HK $8.149 billion, about 25% of which will be spent on brand building. About 25% will be spent on equipment such as refrigerator warmers and smart terminal retail equipment to enhance sales capacity; About 20 per cent is spent on capital expenditure and the like for new capacity.

 


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