China Resources Beverage to launch up to US$700 million IPO next week: sources

DRINKS maker China Resources Beverage is set to launch its Hong Kong initial public offering (IPO) next week, aiming to raise up to US$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 (Oct 15), 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. REUTERS