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rdf:type	schema:NewsArticle
schema:articleBody	Bottled water giant Nongfu Spring said Monday it is aiming to raise more than US$1 billion in a Hong Kong listing, as Beijing cajoles Chinese companies to raise cash at home. Nongfu, which claims to be number one in China's massive bottled water market, is ubiquitous across the country, where most people shun tap water for health reasons. In a filing to the Hong Kong Stock Exchange a day ahead of the listing, the company said it would put more than 388 million shares on the market at an introductory price of HK$21.50 (US$2.77). The pricing means a potential listing worth nearly US$1.1 billion -- which Bloomberg said would be the second-biggest IPO by a food and beverage company this year. Nongfu Spring, which is headquartered in the eastern city of Hangzhou, supplies mineral water unlike most of its competitors who sell purified water. The brand holds around a quarter of the bottled water market in China, according to London-based firm Mintel. China previously lost the listings of internet giants Alibaba and Baidu to Wall Street. But it is looking to change that as friction rises with the United States across all fronts, and as China's own capital markets mature. sbr-rox/apj/qan
schema:headline	Chinese bottled water giant Nongfu eyes $1 bn Hong Kong listing
schema:mentions	Alibaba Group Mineral water Hangzhou Initial public offering Bloomberg L.P. Bottled water Tap water Beijing Hong Kong City United States China Mintel Nongfu Spring Hong Kong Stock Exchange Baidu Friction
schema:author	http://data.cimple.eu/organization/1f0054d541e000623a2c1e561a247c073ef6328e8be9ffafda7b3fcd
schema:datePublished	2020-09-07 (xsd:date)
http://data.cimple...sPoliticalLeaning	other political leaning
http://data.cimple...logy#hasSentiment	positive sentiment
http://data.cimple...readability_score	74 (xsd:integer)
http://data.cimple...tology#hasEmotion	happiness

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