Nongfu Spring filed an initial public offering with the Hong Kong Stock Exchange. The company raised approximately US$1bn by pricing its IPO at the HKD21. 50share. In 2019, the company recorded revenue of 24 billion yuan in revenue in 2019, up from 20. 47 billion yuan a year earlier.
About Nongfu Spring in brief
Nongfu Spring filed an initial public offering with the Hong Kong Stock Exchange. The company raised approximately US$1bn by pricing its IPO at the HKD21. 50share, at the top end of its IPO range. In 2019, the company recorded revenue of 24 billion yuan in revenue in 2019, up from 20. 47 billion yuan a year earlier. The prospectus shows Nongfu spring recorded profit of 4. 95 billion yuan in2019, a 20. 6% increase on its 3. 61 billion yuan profit the previous year. The Beijing Times accused the company of intentionally not adopting Chinese national water standards and instead adopting the lower standards of Zhejiang province.
In November 2013, theCompany accused the Beijing Times of defamation and also filed a lawsuit in the Beijing Second Intermediate People’s Court against the newspaper, which demanded 60 million yuan. In 2016, Chairman of the company, Zhong Shanshan, announced a new strategy to diversify the company and to globalize operations.
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This page is based on the article Nongfu Spring published in Wikipedia (as of Jan. 03, 2021) and was automatically summarized using artificial intelligence.
