China bottled water giant Nongfu Spring prepares for $1b HK IPO

An unbranded bottle of water. Photo: Steve Johnson

Nongfu Spring Co., one of China’s biggest bottled water and beverage companies, is planning an initial public offering in Hong Kong that could raise at least $1 billion, people familiar with the matter said.

The Hangzhou-based company is working with financial advisers for the potential first-time share sale, according to the people, who asked not to be identified as the information is private. The offering could happen as soon as the first half of 2020, the people said.

A representative for Nongfu Spring didn’t immediately respond to requests for comment.

Nongfu Spring, founded in 1996, produces drinking water, vegetable and fruit juices as well as tea beverages and soft drinks, according to its website.

Bloomberg

Singapore Reporter/s

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Following vacancies can be applied for (only in Singapore).   

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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.