Stock Track | CR BEVERAGE Soars 15% in Hong Kong Trading Debut After $650M IPO

Stock Track10-23

Shares of China Resources Beverage Holdings Co Ltd (02460.HK), a leading beverage maker in China, surged nearly 15% in their Hong Kong trading debut on Tuesday, after the company raised $650 million in an initial public offering (IPO).

The stock opened at HK$16.64, up 14.8% from its IPO price of HK$14.50 per share. The robust investor demand, with the retail tranche of the IPO being 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 comes amid a broader revival in 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 provided optimism for dealmakers in the city.

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