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Recently, the initial public offering (IPO) of China Resources Beverage, the parent company of drinking water brand Yibao, was approved by the Listing Committee of the Hong Kong Stock Exchange. This means that after Nongfu Spring, the second largest packaged drinking water company in China will officially enter the capital market.

It is reported that the IPO can raise up to US$1 billion. Meanwhile, the Chinese national table tennis team sponsored by Yibao won both the gold and silver medals in Paris.

The Olympic medals and IPO approval give C'estbon Bottling Co. an edge as it competes with larger rival Nongfu Spring Co. C'estbon, whose name means "very good" in French, will also provide a boost to Hong Kong's tepid IPO market.

Hong Kong was the world’s largest IPO market seven times between 2009 and 2019, but ranked only 13th in the first half of this year, according to data compiled by Refinitiv.

The US$1 billion issue price of China Resources Beverage will become the largest IPO since China Tourism Group Duty Free Shop was listed in Hong Kong. In August 2022, China Tourism Group Duty Free Shop issued shares at a price of US$2.3 billion.