Stock Track | China Resources Beverage Soars on Hong Kong Trading Debut

Stock Track09:33

Shares of China Resources Beverage Holdings Co Ltd surged as much as 13.5% in their Hong Kong trading debut on Tuesday, after the company raised $650 million in an initial public offering (IPO).

The beverage producer's stock opened at HK$16.46, marking a strong premium over its IPO price of HK$14.50 per share. The robust investor demand underscores the market's confidence in the company's growth prospects as it expands its presence in China's massive beverage market.

China Resources Beverage, a subsidiary of the state-backed conglomerate China Resources Holdings, is one of the leading producers of beverages in China. Its portfolio includes popular brands such as C'estbon, Zhen Zhen, and Ice Dew. The company's successful listing comes amid a broader rebound in Hong Kong's IPO market following a sluggish period.

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