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Temasek-backed Eastroc Beverage to price Hong Kong listing at top of range: sources
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The Business Times
PHOTO: EASTROC[SINGAPORE/SYDNEY] Energy drink maker Eastroc Beverage is set to price its Hong Kong listing at the top of its offer range, two people with knowledge of the matter said, raising as much as HK$10.14 billion (S$1.6 billion) from the share sale.
Eastroc, already listed in Shanghai, had offered 40.9 million H shares at up to HK$248 each, valuing the company at about HK$166.4 billion.
The price is expected to be determined on Friday and the final offer price will be announced on Feb 2.
The shares will make their debut on the Hong Kong bourse on Feb 3, according to the company’s previous regulatory filing.
Eastroc will use the proceeds to expand production capacity, upgrade its supply chain and support brand-building, overseas expansion and potential acquisitions, the filing said.