NAME: Eastroc Beverage's $1.3 billion Hong Kong IPO
LAW FIRMS: DeHeng Law Offices, Jia Yuan Law Offices, Herbert Smith Freehills Kramer, O'Melveny & Myers
JURISDICTIONS: China, Hong Kong SAR
PRACTICE AREAS: Capital markets
INDUSTRY SECTORS: Consumer goods and services
Eastroc Beverage's HK$10 billion ($1.3 billion) initial public offering (IPO) on the Hong Kong Stock Exchange is our Deal of the Month for February.
Chinese energy drink manufacturer Eastroc Beverage has completed its Hong Kong listing, one of the few offerings on the exchange in the past 12 months to raise over HK$10 billion. The transaction marks the largest listing of a consumer beverage brand in Asia since 2020. Founded in 1994 and headquartered in Shenzhen, Eastroc previously listed on the Shanghai Stock Exchange in May 2021 and holds the highest revenue growth among the world's top 20 listed soft beverage companies.
This landmark listing reinforces Hong Kong's position as a premier capital-raising destination for Chinese consumer brands and signals renewed confidence in the city's IPO market.
Herbert Smith Freehills Kramer and DeHeng Law Offices advised Eastroc Beverage, with the HSF Kramer team led by partners Matt Emsley, Stanley Xie, Jeremy Shen and Jin Kong, and DeHeng's team led by senior partners Hailong Tang, Hong Pu and Shuai Xu.
Jia Yuan Law Offices and O'Melveny & Myers represented joint sponsors Huatai International, Morgan Stanley and UBS, with Jia Yuan's team comprising founding partner Ying Xu, senior partner Wanda Woo and partner Xing Liu. The O'Melveny team was led by partners Geng Ke, Zhu Ke and Vincent Wang.
