China Resources Beverage to launch up to $700 mln IPO next week, sources say

Reuters10-10

HONG KONG, Oct 10 (Reuters) - Drinks maker China Resources Beverage is set to launch its Hong Kong initial public offering $(IPO.UK)$ next week, aiming to raise up to $700 million, said two people with direct knowledge of the matter.

The company, which owns the C'estbon branded purified drinking products in China, will start taking bids from investors for the offering as soon as Tuesday, the two people and another source said.

The sources declined to be named because the matter was confidential.

China Resources Beverage did not respond immediately to a request for comment outside Hong Kong business hours.

(Reporting by Julie Zhu and Clare Jim in Hong Kong and Scott Murdoch in Sydney Editing by Sumeet Chatterjee and David Goodman )

((Scott.Murdoch@thomsonreuters.com;))

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