Ong nuoc nong fu sheng biography
Ong nuoc nong fu sheng biography
Ong nuoc nong fu sheng biography images.
Nongfu Spring flotation creates China's third-richest man
It has been an extraordinary year for stock markets, whether it was the gut-wrenching falls experienced in March as reality dawned that Covid-19 was not just confined to China, or the astonishing rally seen in US tech stocks this summer.
Tuesday offered proof that the mania for stocks has not been confined to American investors.
Shares of Nongfu Spring, China's leading bottled water and soft drinks producer, surged by 85% at one point as they made their debut on the Hong Kong Stock Exchange.
The shares, sold to investors at HK$21.50 (212p), eventually finished the session up 54% at HK$33.10 (327p).
Demand for the shares was enormous.
Retail investors sought to buy 1,148 times as many shares as were being made available while institutional investors applied to buy 60 times as many shares as were being sold.
The flotation, the fourth most successful on the Hong Kong exchange for a business with a value of more tha