Chinese Alcohol Baijiu Maker ZJLD Group IPO on Hong Kong Exchange with $4.4 Billion Market Value Share Price Dropping 18% on Day 1 of Trading, Founder Wu Xiangdong Becomes Billionaire with around $4 Billion Fortune
28th April 2023 | Hong Kong
Chinese alcohol & spirit baijiu maker ZJLD Group has IPO (Initial Public Offering) on Hong Kong Exchange (HKEX) with $4.4 billion market value (HKD 35 billion) and share price dropping 18% on day 1 of trading (27/4/23, IPO HKD 10.82, Close HKD 8.88), with founder Wu Xiangdong becoming a billionaire ($4 billion, owns around 69% of ZJLD). In the IPO, ZJLD raised $675.2 million and with key investors including top private equity firm KKR. ZJLD Group produces baijiu (colourless distilled spirit) and is China’s national alcohol and also the world’s most consumed alcohol. ZJLD Group has market share of around 69.5% of China’s alcohol market.
“ Chinese Alcohol Baijiu Maker ZJLD Group IPO on Hong Kong Exchange with $4.4 Billion Market Value Share Price Dropping 18% on Day 1 of Trading, Founder Wu Xiangdong Becomes Billionaire with around $4 Billion Fortune “
Chinese Alcohol Baijiu Maker ZJLD Group IPO on Hong Kong Exchange with $4.4 Billion Market Value Share Price Dropping 18% on Day 1 of Trading
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