Overwhelming response to Nongfu’s IPO is a sign Hong Kong’s capital market is roaring ahead in defiance of recession, a coronavirus pandemic and political unrest. Photo: AFP Overwhelming response to Nongfu’s IPO is a sign Hong Kong’s capital market is roaring ahead in defiance of recession, a coronavirus pandemic and political unrest. Photo: AFP
Overwhelming response to Nongfu’s IPO is a sign Hong Kong’s capital market is roaring ahead in defiance of recession, a coronavirus pandemic and political unrest. Photo: AFP
IPO

Chinese water bottler Nongfu Spring soaks up more than a third of Hong Kong’s daily cash in a record-breaking stock sale

  • The company, based in the Zhejiang provincial capital of Hangzhou, offered 388.2 million shares at HK$21.50 each in Hong Kong
  • Nongfu’s retail shares were overbought by a record 1,147 times, locking up HK$677 billion (US$87 billion) in capital

Topic |   IPO
Overwhelming response to Nongfu’s IPO is a sign Hong Kong’s capital market is roaring ahead in defiance of recession, a coronavirus pandemic and political unrest. Photo: AFP Overwhelming response to Nongfu’s IPO is a sign Hong Kong’s capital market is roaring ahead in defiance of recession, a coronavirus pandemic and political unrest. Photo: AFP
Overwhelming response to Nongfu’s IPO is a sign Hong Kong’s capital market is roaring ahead in defiance of recession, a coronavirus pandemic and political unrest. Photo: AFP
READ FULL ARTICLE