CR BEVERAGE, the parent company of Nongfu Spring, officially launches its IPO! The offering price is HKD 13.5-14.5 per share

On October 15, CR BEVERAGE (Holdings) Limited announced the launch of a global offering, with a total of 347,826,200 shares being offered. Among them, 38,261,000 shares are offered in Hong Kong, and 309,565,200 shares are offered internationally. The maximum offering price is set at HKD 14.50 per share, with an expected minimum offering price of HKD 13.50 per share.

UBS AG Hong Kong Branch will act as the stabilizing manager for this global offering, with a stabilization period of 30 days after the listing date. The application process for CR BEVERAGE will be fully electronic, without providing printed copies of the prospectus. Application channels include online white form services and Hong Kong Securities EIPO channels, with the application period from 9:00 am on October 15, 2024, to 11:30 am on October 18, 2024.

According to the expected timetable of CR BEVERAGE, the public offering in Hong Kong will start at 9:00 am on October 15, 2024, and the deadline for electronic subscription applications through online white form services is 11:30 am on October 18, 2024.

The expected pricing date is on or before 12:00 pm on October 21, 2024, and the announcement of the final offering price and allocation results will be made on or before 11:00 pm on October 22, 2024. The expected trading of shares on the Stock Exchange of Hong Kong will commence at 9:00 am on October 23, 2024.

CR BEVERAGE is a well-known enterprise in the Chinese packaged drinking water and ready-to-drink beverage industries. According to a report by Zhushi Consulting, the company started production in 1990 and is one of the earliest specialized producers of packaged drinking water in China. After 40 years of development, the company has grown to become the second-largest packaged drinking water enterprise in China and the largest drinking purified water enterprise in China (with market shares of 18.4% and 32.7% respectively based on 2023 retail sales).

According to the Zhushi Consulting report, the company's "Yibao" brand of drinking purified water achieved a retail sales of RMB 39.5 billion in 2023, making it the leading brand in the Chinese drinking purified water market. Centered around the company's "Yibao" brand and built on the success of drinking purified water products, the company continuously enriches its portfolio of packaged drinking water products by diversifying water types and expanding product specifications to cover various consumption scenarios including outdoor, home, business, dining, and sports. For example, strategically focusing on large-sized packaged drinking water, from 2021 to 2023, the company's revenue and sales volume of large-sized packaged drinking water products both achieved a compound annual growth rate of over 10%, with the revenue contribution from this category steadily increasing year by year