Tibet 5100 Water Resources Holdings is seeking to raise HK$1.6bn with the IPO

Tibet 5100 Water Resources Holdings is seeking to raise HK$1.6bn with the IPO

Bottled water firm Tibet 5100 Water Resources Holdings is seeking to raise up to HK$1.6bn (US$205.3m) in an Initial Public Offering (IPO), according to a report.

The IPO is expected to be made ahead of a listing on the Hong Kong stock exchange on 30 June, Dow Jones Newswires wrote on Friday (17 June). The company will use the money to increase production capacity as it seeks to take market share from foreign rivals.

The Lhasa-based mineral water firm plans to sell 459.3m shares in a range of HK$2.62-HK$3.5 each, according to Dow Jones.