China’s Eastroc Beverage is looking to raise as much as HK$10.14 billion ($1.30 billion) in its Hong Kong listing, according to a filing with the exchange on Monday.
The Shanghai-listed drinks maker is offering 40.9 million H shares at a maximum offer price of HK$248 apiece.
The company expects to announce the final offer price by Febraury 2, with shares slated for debut on the Hong Kong exchange the following day, the filing showed.
Eastroc’s main products include energy and electrolyte drinks, as well as other beverages such as teas and juices.
The firm is riding on a wave of Chinese companies looking to list in Hong Kong, with the city becoming the world’s top destination for listings, propelled by regulatory changes and pent-up demand from firms seeking access to capital after years of tough oversight from mainland Chinese authorities.
Around $37.2 billion was raised from 115 new listings, the most since 2021, according to LSEG data.
Eastroc’s listing comes on the heels of Chinese semiconductor firm OmniVision , chipmaker GigaDevice and ‘AI tiger’ MiniMax Group’s market debuts earlier this month.
($1 = 7.7959 Hong Kong dollars)
Reuters
