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Food And Beverage Giant Wahaha Ponders Billion-Dollar IPO

July 3, 2020: 12:00 AM EST
Chinese beverage company Hangzhou Wahaha Group Co. is considering an initial public offering that could raise more than $1 billion, Bloomberg reports. An adviser is working with the company on the IPO, which would probably take place in 2021. Wahaha markets products ranging from bottled water, yogurt drinks, and juice to instant noodles, sold in more than 30 countries, including Canada, Singapore, and the U.S. It maintains 80 production plants and employs about 30,000 workers. Bloomberg notes that Wahaha joins fellow Hangzhou-based beverage firm Nongfu Spring Co. in seeking a first-time share offering. Nongfu filed for its Hong Kong IPO in late April and plans to raise about $1 billion.[Image Credit: © Hangzhou Wahaha Group Co.,Ltd.]
"China Beverage Firm Wahaha Said to Mull IPO Above $1 Billion", Bloomberg, July 03, 2020, © Bloomberg L.P.
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