Full Apex, a Chinese bottle maker has launched an S$84 million (US$49m) float in Singapore, one of three announced on Friday in the city state, the world's fastest growing IPO market this year.

The company makes plastic bottles for brand names such as Coca-Cola Co, Pepsi Bottling Group Inc and San Miguel Corp. The float is an initial public offering of 196m shares at an offer price of S$0.43 ($0.25) per share. It represents 26% of its enlarged share capital.

The company said some of the proceeds of the IPO would be used to finance a bottling plant in Shenzhen, China.