Deals
China Resources Beverage Seeks Up to $649 Million in Hong Kong IPO
- Bottled water maker aims to list shares in city on Oct. 23
- UBS Asset Management, Oaktree Capital among IPO investors
China Resources Beverage’s IPO comes as first-time share sales in Hong Kong stage a tentative recovery.
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China Resources Beverage Holdings Co. is seeking to raise as much as $649 million in its Hong Kong initial public offering, one of the city’s largest listings this year.
The owner of the C’estbon water brand attracted a unit of China Tourism Group, UBS Asset Management AG and Oaktree Capital Management LP as cornerstone investors for the share sale. Boyu Capital and China Post Life Insurance Co. are among other cornerstones, the company’s listing document showed Tuesday.