Stock Track | CR BEVERAGE Soars 15% in Hong Kong Trading Debut After Blockbuster IPO

Stock Track10-24

Shares of China Resources Beverage Holdings Co Ltd (02460.HK) surged nearly 15% in their Hong Kong trading debut on Tuesday, buoyed by strong investor demand for the leading Chinese beverage maker's $650 million initial public offering (IPO).

The stock opened at HK$16.64, soaring 14.8% from its IPO price of HK$14.50 per share. The robust debut, which saw the retail tranche oversubscribed by 234 times, underscores market confidence in CR BEVERAGE's growth prospects as it expands its presence in China's massive beverage market.

CR BEVERAGE's successful listing provided a bright spot for Hong Kong's IPO market, which had seen a near two-year lull in new share sales. The company's offering, along with robotics firm Horizon Robotic's $696 million IPO this week, raised a combined $1.3 billion and fueled optimism for dealmakers in the city.

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