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Freshfields advises Nongfu Spring Co., Ltd. on its Hong Kong IPO

Freshfields Bruckhaus Deringer (‘Freshfields’) has advised Nongfu Spring Co., Ltd. (‘Nongfu Spring’) on the US$1.08bn global offering and listing of its H shares on the Hong Kong Stock Exchange. The transaction is the first H-share ‘Full Circulation’ IPO deal in Hong Kong. Trading in the H shares commenced today (8 September 2020).
Nongfu Sping's public offering generated overwhelming demand from investors, making it Hong Kong's most oversubscribed IPO ever. 
Nongfu Spring is a leader in China’s packaged drinking water and beverage segment. According to industry research, Nongfu Spring has ranked first in the packaged drinking water market in China by market share for eight consecutive years from 2012 to 2019. It was among the top three players in the tea beverage, functional beverage and juice beverage segments in China by retail sales during 2019.
The Freshfields team advising on the transaction was led by partner and head of China ECM Richard Wang and partner Calvin Lai, with support from counsel Steven Hsu.
Notes for editors

About Freshfields Bruckhaus Deringer
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