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Nongfu Spring IPO turns owner into China's third-richest

Zhong Shanshan hits jackpot as water bottler's shares gain 54% in Hong Kong debut

HONG KONG -- Chinese water bottler Nongfu Spring's shares soared as much as 85% on their debut on Tuesday after the company's $1.1 billion initial public offering in Hong Kong attracted a record level of retail orders, bolstering the hopes of other Chinese companies waiting to sell shares.

Shares in the Hangzhou-based company ended the day up 54% at HK$33.10. The IPO was priced at HK$21.50 and the shares jumped to HK$39.80 at the opening of trade. The Hang Seng Index rose 0.1%.

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