Eastroc Beverage Eyes HK$10.14 Billion IPO for Global Expansion

Chinese energy drink producer Eastroc Beverage aims to raise HK$10.14 billion in a Hong Kong IPO to expand production, enhance supply chains, and boost brand presence globally. The listing includes 40.9 million H shares, valuing the company at approximately HK$166.39 billion. New ventures and acquisitions are planned.

Eastroc Beverage, a leading Chinese energy drink manufacturer, is setting its sights on a major fundraising effort, aiming to collect HK$10.14 billion through a Hong Kong stock exchange listing. The capital is intended for expanding production capabilities and upgrading the supply chain, as disclosed in a regulatory filing released on Monday.

The additional funds will also support brand development, international growth, and potential acquisitions. Shanghai-listed Eastroc plans to offer 40.9 million H shares at a peak price of HK$248 per share, bringing the company's valuation to around HK$166.39 billion. Noteworthy investors include Qatar Investment Authority and BlackRock.

The IPO is a significant step for Eastroc, which was founded in Shenzhen in 1994, as it seeks to enhance its market presence. Having held the position of China's largest functional beverage company by sales volume for four years, Eastroc is capitalizing on robust profits, signaling optimism for its future endeavors.

(With inputs from agencies.)