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China Resources Beverage to raise $5.04b in Hong Kong IPO
It will issue 347.8 billion shares.
China Resources Beverage plans to raise $5.04b (US$650m) in its initial public offering (IPO) in Hong Kong.
In a filing to the HKEX, the company said it will offer 347.8 million shares in its global offering.
Of the total, 139.1 million shares will go to the public and 208.7 million shares to international investors.
The company plans to issue the shares between $13.50 and $14.50 apiece.
The company will use the IPO proceeds to expand its production capacity, enhance its distribution network, and support product innovation.
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