Nongfu Spring’s strong Hong Kong debut makes its founder one of wealthiest in China
Nongfu Spring’s strong Hong Kong debut makes its founder one of wealthiest in China

Nongfu Spring’s strong Hong Kong debut makes its founder one of wealthiest in China

 

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Shares of Nongfu Spring Co. Ltd., Chinese bottled water giant, debuted strongly in their first day of trading in Hong Kong, buoyed by a combination of strong demand and scarcity of new shares on offer.

The company saw its stock surge as much as 85 per cent, marking the fourth-best ever among firms raising at least $1 billion in Hong Kong.

Nongfu’s stock opened at HK$38.4, nearly twice its pre-trading price of HK$21.5, which sent the net worth of the founder Zhong Shanshan, who owns 84 per cent . . .

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