On 23 October 2024, China Resources Beverage (“CR Beverage”， stock code: 2460.HK) was successfully listed on the Main Board of the Hong Kong Stock Exchange. CR Beverage issued a total of 347.8 million shares. And  issued at HK$14.5 per share, raising gross proceeds of HK$5.04 billion.

 

In this transaction, Clifford Chance, Jingtian & Gongcheng, and Harney Westwood & Riegels are serving as joint legal advisers to the issuer. Clifford Chance provided legal advice to CR Beverage regarding Hong Kong and US law. Jingtian & Gongcheng acted as the domestic legal adviser for China, as well as a data compliance adviser and special legal adviser to CR Beverage in Hong Kong. Harney Westwood & Riegels provided legal counsel to the issuer concerning the laws of the Cayman Islands.

 

UBS, BOCI, CITIC Securities and Merrill Lynch are the joint sponsors of the project and Paul Hastings and Zhong Lun Law Firm are acting as legal advisers to the sponsors and underwriters with respect to the relevant laws of Hong Kong, the United States and the People's Republic of China, respectively.

 

CR Beverage is a well-known company in China's packaged drinking water industry and China's ready-to-drink soft drinks industry, and is part of the large consumer sector of China Resources Group. To date, eight CRH Group companies have been listed on the HKSE and a further nine on the A-share market. The successful listing of CR Beverage is the 18th IPO of the CRH Group.