Thailand’s Coconut Water Giant IFBH Soars In Hong Kong IPO Debut
The post Thailand’s Coconut Water Giant IFBH Soars In Hong Kong IPO Debut appeared on BitcoinEthereumNews.com. IFBH, the Thai company behind the IF-branded bottled coconut water, started trading in Hong Kong on June 30, 2025. Shanshan Kao/Forbes Asia IFBH, the Thai company behind China’s largest coconut water brand IF, saw its shares jump 42% in its Hong Kong stock market debut Monday, boasting a market cap of $1.3 billion. IFBH ended its first day trading at HK$39.5, up from the HK$27.8 per share set for the initial public offering. The company, a subsidiary of Bangkok-based General Beverage, raised HK$1.16 billion ($145 million) from the sale of 41.7 million shares at the top end of a marketed range of HK$25.3 to HK$27.8. The stock surge gave Pongsakorn Pongsak, IFBH’s founder, CEO and largest shareholder, a net worth of $807 million, propelling the 45-year-old into the ranks of Thailand’s wealthiest people. Forbes estimates Pongsakorn’s wealth based on his 60% stake in IFBH, which he holds directly and through General Beverage. Pongsakorn holds a 91% stake in General Beverage, which in turn owns 60% in IFBH. IFBH’s IPO has attracted a roster of big-name cornerstone investors, including Black Dragon, an investment fund backed by Soopakij Chearavanont, the chairman of Thai agriculture-to-telecoms conglomerate Charoen Pokphand (CP) Group and the eldest son of billionaire Dhanin Chearavanont; HongShan’s HCEP Management; Jain Global, the U.S. hedge fund founded by former Millennium co-chief investment officer Bobby Jain; U.S. trading giant Jane Street; and UBS Asset Management. The company’s pre-IPO investors include Singaporean sovereign wealth fund Temasek. IFBH said it will use the IPO proceeds to bolster fulfillment capabilities, strengthen its presence in mainland China and expand operations in Australia, the Americas and Southeast Asia. “Over the years, we have grown into one of the leading ready-to-drink natural coconut water brands in Asia,” Pongsakorn said at the listing ceremony in Hong Kong on Monday. “Looking…
The post Thailand’s Coconut Water Giant IFBH Soars In Hong Kong IPO Debut appeared on BitcoinEthereumNews.com.
IFBH, the Thai company behind the IF-branded bottled coconut water, started trading in Hong Kong on June 30, 2025. Shanshan Kao/Forbes Asia IFBH, the Thai company behind China’s largest coconut water brand IF, saw its shares jump 42% in its Hong Kong stock market debut Monday, boasting a market cap of $1.3 billion. IFBH ended its first day trading at HK$39.5, up from the HK$27.8 per share set for the initial public offering. The company, a subsidiary of Bangkok-based General Beverage, raised HK$1.16 billion ($145 million) from the sale of 41.7 million shares at the top end of a marketed range of HK$25.3 to HK$27.8. The stock surge gave Pongsakorn Pongsak, IFBH’s founder, CEO and largest shareholder, a net worth of $807 million, propelling the 45-year-old into the ranks of Thailand’s wealthiest people. Forbes estimates Pongsakorn’s wealth based on his 60% stake in IFBH, which he holds directly and through General Beverage. Pongsakorn holds a 91% stake in General Beverage, which in turn owns 60% in IFBH. IFBH’s IPO has attracted a roster of big-name cornerstone investors, including Black Dragon, an investment fund backed by Soopakij Chearavanont, the chairman of Thai agriculture-to-telecoms conglomerate Charoen Pokphand (CP) Group and the eldest son of billionaire Dhanin Chearavanont; HongShan’s HCEP Management; Jain Global, the U.S. hedge fund founded by former Millennium co-chief investment officer Bobby Jain; U.S. trading giant Jane Street; and UBS Asset Management. The company’s pre-IPO investors include Singaporean sovereign wealth fund Temasek. IFBH said it will use the IPO proceeds to bolster fulfillment capabilities, strengthen its presence in mainland China and expand operations in Australia, the Americas and Southeast Asia. “Over the years, we have grown into one of the leading ready-to-drink natural coconut water brands in Asia,” Pongsakorn said at the listing ceremony in Hong Kong on Monday. “Looking…
What's Your Reaction?
