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Nongfu Seeks $1.1 Billion in Year’s Second Biggest F&B IPO

  • IPO draws five cornerstone investors including Fidelity, GIC
  • Nongfu plans to price offering on Aug. 28; to list Sept. 8
Nongfu Spring bottled water are displayed for sale in Changzhou, China.

Nongfu Spring bottled water are displayed for sale in Changzhou, China.

Photographer: Wang Qiming/VCG via Getty Images

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China bottled water giant Nongfu Spring Co. is seeking to raise as much as HK$8.35 billion ($1.1 billion) in what could be the world’s second biggest initial public offering by a food and beverage company this year.

The Hangzhou-based firm is offering 388.2 million shares at HK$19.5 to HK$21.5 each in its Hong Kong share sale, according to a prospectus on the Hong Kong stock exchange website on Tuesday.