Nongfu Spring is a leader in the packaged drinking water and beverage businesses in China, devoted to providing consumers with high-quality products. It ranked first in the packaged drinking water market in China in terms of market share for eight consecutive years from 2012 to 2019, and was one of the top three players in tea, functional and juice beverage markets in China by retail sales value in 2019. With its belief in natural and healthy products, Nongfu Spring has obtained access to ten quality natural water sources and launched multiple market-leading brands including Nongfu Spring, Tea π, Oriental Leaf, Scream, Farmer’s Orchard, etc.
The Company is an industry leader with scale, growth potentials and profitability, with revenues of RMB17.49 Bn, RMB20.48 Bn, and RMB24.02 Bn in 2017, 2018 and 2019 respectively, representing CAGR of 17.2%.
CICC acted as the left-lead Joint Sponsor and Joint Global Coordinator on this deal, and led the overall project execution and marketing workstream, assisting the Company in listing on the Main Board of HKEx.
The offering received extensive attention from global investors. CICC assisted the Company in securing multi-times covered cornerstone and anchor orders, laying a solid foundation for the high-end pricing.
With its in-depth experience in the capital market and a full spectrum of services, CICC earned great recognition and strong trust from Nongfu Spring by assisting the Company in its listing. Cooperation with Nongfu Spring not only further consolidated CICC’s reputation for serving top-tier consumer goods companies, but also strengthened CICC’s market position in the consumer sector. It established another classic case of CICC serving large-scale and high-quality Chinese enterprises.
