China Resources Beverage, a state-owned firm, plans a $700M IPO in Hong Kong, the largest in 2024.

China Resources Beverage, a subsidiary of state-owned China Resources Holdings, is set to launch an initial public offering in Hong Kong next week, aiming to raise up to $700 million. This would be the largest IPO in the city for 2024, surpassing a $330 million offering by Sichuan Baicha Baidao Industrial. Bidding for the shares will begin on Tuesday, with Bank of America, BOC International, Citic Securities, and UBS as sponsors.

October 10, 2024
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