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 (CR BEVERAGE) surged nearly 15% in their Hong Kong trading debut on Tuesday, after the leading Chinese beverage maker raised $650 million in an initial public offering (IPO).

CR BEVERAGE's stock opened at HK$16.64, soaring 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 the company's growth prospects as it expands its presence in China's massive beverage market.

The 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. CR BEVERAGE'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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