Nongfu Spring Shares Soar 85% On Hong Kong Debut

Shares in the mainland's drinks and beverages producer, Nongfu Spring, opened 85 percent higher on their trading debut on the local bourse on Tuesday morning.

The price soared to HK$39.80 per share as trading began, up from the IPO price of HK$21.50 per share.

It finished at HK$33.30 at the end of the morning session, still up 54 percent from the offer price, before closing the day at HK$33.10.

Nongfu Spring sold 388.2 million shares and raised around HK$8 billion from the offering after setting the IPO price at the upper end of its proposed range.

Ahead of its debut on the local bourse, Nongfu Spring shares had attracted the strongest-ever response from retail investors in the IPO in terms of subscription value.

The offering attracted more than HK$670 billion in subscriptions, with demand for its shares among retail investors outweighing supply by more than 1,140 times.

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