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Zhong Lun Advises on CR Beverage’s IPO in Hong Kong

Release time：2024-10-23 Voice Announcements

On October 23, 2024, China Resources Beverage (Holdings) Company Limited (2460.HK) announced its successful initial public offering and listing on the Main Board of the Stock Exchange of Hong Kong Limited, raising proceeds of approximately HKD 5.04 billion prior to the exercise of over-allotment option. UBS, BOCI, CITIC Securities, and BofA Securities acted as the joint sponsors for the listing.

CR Beverage is a renowned company in China’s packaged drinking water industry and China’s RTD soft beverage industry. According to the CIC Report, in term of retail sales value in 2023, CR Beverage was the second largest company in the packaged drinking water market in China and the largest company in the purified drinking water market in China, with “C’estbon” as the number one brand in China’s purified drinking water market; it also ranked among top 10 in various core RTD beverage categories of China, including tea beverage, juice beverage, and coffee beverage.

Zhong Lun Law Firm acted as the PRC legal adviser to the joint sponsors in the listing. The legal team was led by partners Anthony Zhao, William Jia, and John Shen, and included non-equity partner Roy Zheng and associates Cynthia Yuan, Myron Hu, Ruby Zheng, Claire Yang, Oren Dong, etc. Partner Furong Deng made significant contributions to the project, and partner Raphael Liu and non-equity partner Tom Yu also provided relevant support.

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Zhong Lun Advises on CR Beverage’s IPO in Hong Kong