Eastroc Beverage’s IPO Aims for Record $1.3 Billion in Hong Kong

Eastroc Beverage, a Chinese energy drink producer, is set to launch its IPO on the Hong Kong exchange to raise HK$10.14 billion ($1.3 billion). The funds raised will be utilized for expanding production capacity, upgrading the supply chain, and investing in brand building, overseas expansions, and potential acquisitions, among other uses revealed in the regulatory filing on Monday. Eastroc plans to offer 40.9 million H shares at a maximum price of HK$248 each, valuing the company at approximately HK$166.39 billion ($21.35 billion). The IPO includes cornerstone investors such as Qatar Investment Authority, Temasek Holdings, True Light Capital, BlackRock, Tencent, and…