IFBH is a Thai firm with IF brand name bottled coconut water that started selling Hong Kong on June 30, 2025.
Shanshan Kao/Forbes Asia
If If If Bhief Bachiaut shares made its launching on Monday, its supply cost climbed 42% to a market capitalization of $1.3 billion.
IFBH finished its initial day of deal at HK$ 39.5, up from HK$ 27.8 per share in the IPO. The firm is a subsidiary of Bangkok-based General Beverages, offering from 41.7 million shares cost HK$ 1.16 billion (US$ 145 million) and the supply is cost HK$ 25.3 to HK$ 27.8.
IFBH owner, chief executive officer and biggest investor, Pongsakorn Pongsak shares rose with a total assets of $807 million, pressing the 45-year-old towards the most affluent in Thailand. Forbes Based Upon his 60% risk in IFBH, his riches approximates Pongsakorn’s riches, which he holds straight via basic beverages. Pongsakorn possesses 91% of the basic drink risk, while IFBH possesses 60% of the shares.
IFBH’s IPO brought in a team of heavyweights’ foundation capitalists, consisting of Black Dragon, Black Dragon, a mutual fund backed by Sopakij Chearavanont, Charoen Pokphand (CP) Team, the chairman of Thai Farming to Attributes, and the kid of billionaire Dhanin Chanin Chanin Chearavanont; Hongshan’s HCEP administration; Jain Global, a united state bush fund, established by previous Centuries co-host financial investment policeman Bobby Jain; united state profession titan Jane Road; and UBS Property Monitoring. The firm’s pre-IPO capitalists consist of Singapore’s sovereign riches fund Temasek.
IFBH stated it will certainly utilize IPOs to boost gratification capacities, boost its visibility in landmass China, and broaden procedures in Australia, the Americas and Southeast Asia. “For many years, we have actually turned into among Asia’s leading all-natural coconut water brand names,” Ponsarcohen stated at a listing event in Hong Kong on Monday. “Looking ahead, we delight in to proceed buying development, enhancing our purchase capacities and enhancing brand name sustainability.”
IFBH owner and chief executive officer Pongsakorn Pongsak (appropriate) was provided on the Hong Kong Stock Market on June 30, 2025.
Shanshan Kao/Forbes Asia
IFBH is understood for its IF brand name bottled coconut water, a clear and somewhat pleasant beverage stemmed from coconuts that some individuals believe benefit wellness. According to its program, the firm offered $362 million in retail worth in China in 2015, making it the nation’s biggest manufacturer of coconut water. IFBH has a worldwide retail worth of $374 million in 2024, claiming it is additionally the globe’s 2nd biggest coconut public utility after Vita Coco in New York City.
The firm created greater than 92% of income from landmass China in 2024, with 4.6% originating from Hong Kong and somewhere else, consisting of Australia, Cambodia, Canada, Canada, Kuwait, Malaysia, Singapore, Singapore, Taiwan, Thailand and the USA rising to 80%, with year-on-year sales rising to $157.6 million, while making almost double the revenue in mid-2024. IFBH connects development to enhanced sales in landmass China.
Although IFBH has a service range, IFBH is a lean group of 46 staff members because of its “property lights” company design. IFBH outsources its production and circulation to moms and dads’ routine drinks and various other 3rd parties, making the firm concentrate on advertising and marketing and R&D.
Pongsakorn established Universal Drink in 2011 and released the IF brand name coconut water 2 years later on. He started offering drinks in Hong Kong in 2015, complied with by landmass China in 2017. For many years, Pongsakorn has actually remained to introduce by establishing plant-based treats such as coconut crunchy rolls, in addition to items that accommodate neighborhood choices such as coconut black tea from China. At the end of 2022, he developed IFBH to run a basic company beyond Thailand.
The IFBH listing shows up in the rebirth of the IPO market in Hong Kong. The city is anticipated to win the crown in 2025, ending up being the globe’s greatest market area in 2025, driven by brand-new financier rate of interest in Chinese technology supplies that have actually motivated Chinese firms to drive even more Chinese firms to offer to Hong Kong.
According to information from the Hong Kong Stock Market and Cleaning, Hong Kong has actually increased 41 listings because 2025 to June 26, completing greater than HK$ 100.4 billion. Amongst the firms provided in the city, consisting of gold jewelry seller Zhou Liufu Precious jewelry, its shares rose almost 70% in the initial 2 trading days on Friday, advertising its chairman to billionaire condition.
