Economy
Tibet 5100 rises on HK bourse's debut
(Xinhua)
Updated: 2011-06-30 15:36
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HONG KONG - Chinese mainland's high-end mineral water manufacture Tibet 5100 Water Resources started trading on the Hong Kong stock exchange on Thursday as the first of its kind from the plateau region.
Tibet 5100 opened at 3.32 HK dollars, 10.7 percent higher than the issue price of 3 HK dollars.
Fu Lin, CEO of the company known as the glacial mineral water provider with the highest elevation in the world, said the market of bottled water in mainland has been developing very fast.
He quoted industry figures saying that from 2009 to 2014, the compound annual growth rate of regular bottled water in mainland was likely to be 12.6 percent while that of high-end products may over 20 percent.
Shuanghua, another debutante on Thursday opened at 1.35 HK dollars, up 16.4 percent.