IFBH (HKG:6603) raised HK$1.07 billion in net proceeds from its initial public offering in Hong Kong as the Singapore-incorporated company priced the shares at the top end of the price band.

The beverage maker priced the shares at HK$27.80 apiece, the upper limit of the guidance of as low as HK$25.30 per share, according to a Friday after-market hours filing.

The Hong Kong public offering was 2,682.35 times subscribed, triggering a clawback of 16,666,600 shares from the international offer, which took the total number of shares offered under this portion to 20,833,400 from 4,166,800 initially.

The international offering was 22.93 times and the company offered 20,833,400 shares, down 37,500,000 shares initially following the reallocation.

IFBH noted that it allotted 141,600 shares under the employee preferential offering, which came in undersubscribed by 6,600 shares. The shares not taken were reallocated to the Hong Kong public offering.

The company will make its trading debut on the Hong Kong bourse when the opening bell sounds at 9 am on Monday, June 30.