"New Shares" EASTROC BEVERAGE starts accepting subscriptions today, with an entry fee of over HKD 25,000. TENCENT, Qatar Sovereign Fund, Temasek, and others serve as cornerstone investors

The mainland energy drink brand Eastroc Beverage (09980.HK), which is already listed on the A-share market, will begin its public offering from today (26th) until the 29th. This H-share issuance will offer approximately 40.89 million shares, with 10% allocated for public offering, and the upper limit of the offering price is HKD 248 per share, with a total fundraising amount of up to approximately HKD 10.14 billion. The entry fee, based on a lot of 100 shares, is HKD 25,050.11. The company is expected to be listed on February 3rd. The joint sponsors are Huatai International, Morgan Stanley, and UBS.

The net proceeds from this IPO are expected to be approximately HKD 9.9943 billion. About 36% will be used to improve capacity layout and promote supply chain upgrades over the next three to five years; about 15% will be used to strengthen brand building and consumer interaction over the next three to five years; about 11% will be used to continue advancing the national strategy over the next three to five years; about 12% will be used to expand overseas market operations over the next three to five years; about 10% will be used to enhance digital construction across various business segments over the next three to five years; about 6% will be used to enhance product development capabilities over the next three to five years; and about 10% will be used for working capital and general corporate purposes.

Eastroc Beverage has received support from several international and strategic investors as cornerstone investors, including Al-Rayyan under the Qatar Sovereign Wealth Fund, Taibai under Temasek, TENCENT (00700.HK), BlackRock, entities under Li Ka-shing of the Pacific Century Group, Morgan Asset Management, Taikang Life, and UBS, collectively subscribing for approximately HKD 4.99 billion worth of shares