New Stock News | China Resources Beverage's Hong Kong IPO roadshow is expected to start as early as Thursday with plans to raise $500 million to $1 billion.

According to informed sources, China Resources plans to start the Hong Kong IPO roadshow of its beverage subsidiary, China Resources Beverage, as early as Thursday (September 26), with plans to raise $500 million to $1 billion. China Resources Beverage plans to complete the IPO in October, with China International Capital Corporation, CITIC Securities, Merrill Lynch, and UBS as the joint sponsors. On April 22, 2024, China Resources Beverage submitted its prospectus to the Hong Kong Stock Exchange, and on July 10, it received a notice from the China Securities Regulatory Commission for overseas listing, planning to issue no more than approximately 406 million common shares and list on the Hong Kong Stock Exchange. It is reported that China Resources Beverage is one of the earliest enterprises in China specializing in the production of packaged drinking water, with a product portfolio of 13 brands including "Yibao", "Zhiben Qingrun", "Honey Water Series", "Holiday Series" and "Zuo Wei Chash". According to a report by QuestMobile, in 2023, based on retail sales, China Resources Beverage ranked first in the Chinese purified drinking water market with a market share of approximately 32.7%. In addition, China Resources Beverage ranks fifth in the Chinese ready-to-drink soft drink market with a market share of approximately 4.7%, and second in the Chinese packaged drinking water market with a market share of approximately 18.4%.