Thai coconut water maker IFBH Limited makes Hong Kong IPO debut

It raised $1.16b.

Thai coconut beverage company IFBH Limited officially debuted on the Hong Kong Stock Exchange, raising $1.16b  its initial public offering.

The company offered 41,666,800 shares globally at the final offer price of $27.80 per share, with the shares evenly split between the Hong Kong Public Offering and the International Offering, each comprising 20,833,400 shares

The IPO was met with strong demand. The Hong Kong public tranche was oversubscribed by 2,682 times, triggering a claw-back mechanism that reallocated shares from the international tranche.

Total gross proceeds reached $1.16b, whilst net proceeds, after deducting listing expenses, amounted to $1.07b

Following the listing, the total number of issued shares stands at 266,666,800, and the public float represents approximately 31.5% of the company’s total issued share capital

Founded in Thailand and incorporated in Singapore, IFBH Limited is best known for its premium coconut water and related plant-based beverage products.