Nongfu Spring Aiming to Raise $1.08 Billion in Upcoming Hong Kong IPO

China based drinks manufacturer Nongfu Spring has announced that it’s looking forward to raise $1.08 billion in its upcoming Hong Kong initial public offering which is slated for 25 August all through to 28 August.

The company will sell a total of 388.2 million shares and it will be pricing the shares between HK$19.50 to HK$21.50 ($2.52 to $2.77) per share in the IPO.

Citing the regulatory listing documents, one week after the IPO has concluded, Nongfu Spring will start trading on the Hong Kong Stock Exchange.

This IPO will be the largest IPO in Hong Kong Stock Exchange this year, so far the largest one is that of Bohai Bank (9668) which took place in July fetching $1.7 billion in the IPO.

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