Eastroc Beverage (HKG:9980, SHA:605499) priced its Hong Kong initial public offering at the maximum target price of HK$248, according to a Hong Kong bourse filing Friday.

The Chinese beverage producer is offering 40.9 million Hong Kong shares to raise HK$10.14 billion, with allocation results due Feb. 2, ahead of the company's expected trading debut on the Hong Kong Stock Exchange on Feb. 3.

Net proceeds will be used primarily to expand production capacity and upgrade supply chain infrastructure, including the construction of new domestic production facilities, upgrades to existing production bases, and the development of overseas supply chain and warehousing infrastructure.