Tibet 5100 Water Resources Holdings has sold shares worth $177 million in an initial public offering (IPO), FinanceAsia reports. The producer of bottled mineral water has become the first Tibetan company to list in Hong Kong.
Nearly 50-60 institutional investors subscribed to the offering and $30 million each were sold to Fubon Life Insurance and private equity fund Profounders. Tibet 5100 was brought to the market by CCB International, Citic Securities, ICBC International, JP Morgan and Oriental Patron.