China Resources Beverage shares jump 13.5% on Hong Kong IPO debut (updated)

China Resources Beverage (Holdings) Co

23/10/2024 02:45

(Adds deal details in paragraphs 2-4)
    By Scott Murdoch and Donny Kwok
       SYDNEY, Oct 23 (Reuters) - Shares of drinks maker China
Resources Beverage  2460.HK  leapt 13.5% on its Hong Kong
trading debut on Wednesday after raising $540 million in an
initial public offering (IPO).
    The company sold 347.8 million shares in the deal at
HK$14.50 each and the stock began trading at HK$16.46.
    The IPO is the second largest in Hong Kong this year,
following Horizon Robotic's deal to raise $696 million which was
finalised on Tuesday. Those shares are due to start trading on
the Hong Kong stock exchange on Thursday.
    These two deals, raising a combined total of $1.3 billion,
have provided optimism for dealmakers, suggesting potential
signs of recovery in Hong Kong's IPO market following a near
two-year pause in new share sales.
    

 (Reporting by Scott Murdoch and Donny Kwok; Editing by
Christian Schmollinger)
 ((Scott.Murdoch@thomsonreuters.com;))