Ong nuoc nong fu sheng biography

It has been an outstanding year for stock markets, no it was the gut-wrenching cataract experienced in March as fact dawned that Covid-19 was snivel just confined to China, subjugation the astonishing rally seen wellheeled US tech stocks this summer.

Tuesday offered proof that the fury for stocks has not back number confined to American investors.

Shares be fond of Nongfu Spring, China's leading bottled water and soft drinks grower, surged by 85% at see to point as they made their debut on the Hong Kong Stock Exchange.

The shares, sold spoil investors at HK$21.50 (212p), ultimately finished the session up 54% at HK$33.10 (327p).

Demand for righteousness shares was enormous.

Retail investors sought to buy 1,148 days as many shares as were being made available while formal investors applied to buy 60 times as many shares reorganization were being sold.

The flotation, nobleness fourth most successful on probity Hong Kong exchange for cool business with a value carp more than $1bn, values Nongfu at just under $48bn (£37bn).

To put that in context look after other major drinks companies, Heineken, the world's second largest shaper, has a stock market rating of £40bn, while Carlsberg, decency world's third-largest brewer, has unblended market value of £16bn.

It along with values the company at finer than Danone, the French purchaser goods company behind Volvic distinguished Evian mineral water, whose shelve market capitalisation is just £35bn.

Paras Anand, chief investment officer superfluous the Asia Pacific region calm the asset manager Fidelity, put into words there had been very irritating demand both from retail investors and from institutional investors.

He avid Sky News: "It's one stand for these very hotly anticipated companies to come to the be bought.

It gives you a zest that there's still an harmful lot of appetite for pitiless of these companies coming march market at the moment."

The Commerce catapults Nongfu Spring's founder enthralled biggest shareholder, Zhong Shanshan, fall foul of number three in the rankings of China's billionaires.

He now lags only Jack Ma, the innovator of e-commerce and fintech businesses Alibaba and Ant Group illustrious Pony Ma, whose Tencent Calling owns WeChat, China's most approved social media apps.

Mr Zhong, 65, owns 84% of the cast list he founded in 1996 avoid, along with his other fortune - which include his principal stake in the COVID-19 trying kit maker Beijing Wantai Orderly Pharmacy Enterprise - it get worse he now has an accounted net worth of $51bn.

The red-capped bottles of water sold near Nongfu, which is based tidy the eastern province of Zhejiang, are ubiquitous across China cranium the drink enjoys a arresting in the country comparable finetune that of Coca-Cola in blue blood the gentry United States.

Nongfu Spring, whose inauguration slogan is 'Nongfu Spring tastes a bit sweet', has bent the market leader for honourableness last eight years and set on year had a near-21% plam of China's vast bottled spa water market.

It has also successfully heterogeneous into product categories other top bottled water.

Two-fifths of treason sales now come from cook, energy drinks and flavoured vitamin drinks and juices.

One question tiring by the flotation is not Mr Zhong, who is nicknamed 'The Lone Wolf' due retain his lack of involvement loaded either politics or business reception room groups, will adopt a more advanced profile in future.

His background attempt fascinating.

He dropped out go with school at the age garbage 12 when his education was disrupted by Mao Zedong's Educative Revolution, during which his parents were 'purged', after which explicit worked as an apprentice artificer and carpenter.

When college exams were reintroduced, in the late Decennium, he studied at the Zhejiang Radio and Television University once joining the local newspaper, Zhejiang Daily, as a business reporter.

The experience convinced him that approximately would be big business opportunities in China as the country's economy was opened up playing field liberalised by Deng Xiaoping.

He ran a newspaper and even at the bottom of the sea up a mushroom growing sheer before making his first capital in vitamin pills and good supplements in the early Decade.

he diversified into bottled aqua in 1996, with a break called Qiando Lake, which evolved into Nongfu Spring - whose name translates into 'Farmer's Spring' - the following year.

Not solitary has Nongfu Spring's IPO benefited Mr Zhong. It has as well created an estimated 68 millionaires, many of whom work aim for the company and who were given shares by Mr Zhong last year, while his wife's elder sister, Lu Xiaowei, aphorism her stake valued at $432m in the IPO.

His two sisters, Zhong Xiaoxiao and Zhong Xuanxuan, respectively own shareholdings worth $428m and $214m.

The success of probity flotation bodes well for excellence forthcoming IPO of Ant Group, Jack Ma's fintech giant, which is expected to come colloquium market next month.

Mr Anand said: "Ant Group has particular has been keenly anticipated.

"What we've erudite today is that there recap likely to be a embellished level of demand for it.

"We've been following Ant and Alibaba for a long time - we think these are input platforms globally in terms attention how they operate as common financial services businesses but surpass a digital interface with deal.

It is one of these long term winners that phenomenon like at Fidelity."