By Scott Murdoch and Donny Kwok
SYDNEY (Reuters) – Shares of drinks maker China Resources Beverage leapt 13.5% on its Hong Kong trading debut on Wednesday after raising $540 million in an initial public offering (IPO).
The company sold 347.8 million shares in the deal at HK$14.50 each and the stock began trading at HK$16.46.
The IPO is the second largest in Hong Kong this year, following Horizon Robotic’s deal to raise $696 million which was finalised on Tuesday. Those shares are due to start trading on the Hong Kong stock exchange on Thursday.
These two deals, raising a combined total of $1.3 billion, have provided optimism for dealmakers, suggesting potential signs of recovery in Hong Kong’s IPO market following a near two-year pause in new share sales.
(Reporting by Scott Murdoch and Donny Kwok; Editing by Christian Schmollinger)
