On September 8, 2020, Nongfu Spring Co., Ltd. (Nongfu Spring, stock code: 09633.HK) completed its IPO on the Main Board of the Hong Kong Stock Exchange. The global issue comprised an offering of 388,231,800 shares (104,822,600 shares offered in Hong Kong and 283,409,200 shares offered in the international market, excluding over-allotment option) at HKD 21.5 per share and with a par value of CNY 0.1, raising approximately HKD 8.149 billion. The company converted some domestic unlisted shares into overseas listed shares for listing on HKEX with H shares. The company is also the first enterprise to achieve a "full circulation" of H shares alongside its IPO, following the China Securities Regulatory Commission’s announcement of the launch of the "full circulation" reform of H shares last November.
Nongfu Spring is a leading, Chinese, bottled water and beverage company committed to delivering quality products. Driven by the concept of "nature and health", the company has tapped 10 quality natural water sources in China, and launched several leading brands such as "Nongfu Spring", "Tea π", "Oriental Leaf", "Scream", and "Nongfu Orchard", spanning multiple categories including bottled water, tea beverages, functional beverages and fruit juices.
As the Chinese legal adviser to the issuer, Jingtian & Gongcheng's legal team provided one-stop, end-to-end legal services for Nongfu Spring’s IPO and listing. This includes comprehensive, legal due diligence, documented work reports and the issuance of legal opinions, liaising with regulators and drafting responses to their requests, and assisting in handling matters concerning the "full circulation" of H shares. As a result, the team gained high recognition from the client.
With a top-notch legal team and deep experience in the consumer goods sector, Jingtian & Gongcheng has represented both issuers and underwriters on the IPOs and listings of many enterprises in domestic and overseas stock markets, and provided comprehensive legal services in the consumer goods, apparel, and food and beverage sectors. These include Haidilao Hot Pot (06862.HK), Yihai International (01579.HK), 1957 & Co. (08495.HK), Haitian Food (603288.SH), Zhou Hei Ya (01458.HK), Dali Group (03799.HK), Xiaomi Group (01810.HK), Mulsanne Group (01817.HK), JNBY (03306.HK), New World Department Store (00825.HK), Sanfo (002780.SZ), Feihe (06186.HK), and New Hope Dairy (002946.SZ), further solidifying our reputation in these industries.
