IFBH Limited, a Thai beverage and food company operating the coconut water and young coconut drink brands "if" and "Innococo", passed the listing hearing on the Hong Kong Stock Exchange, with CITIC Securities as the sole sponsor.

In the previous fiscal year, IFBH recorded revenue of USD157 million, with coconut water beverages alone contributing 95.6% of this revenue. The annual net profit reached USD33.316 million, with a gross margin of 36.7%. By region, the revenue share from the China and Hong Kong markets reached 92.4% and 4.6%, respectively.

The company expected the funds raised from the Hong Kong listing to be used to enhance warehousing and distribution capabilities, brand building, consolidate market position, improve product development capabilities, and form strategic alliances and acquisitions in Asia, North America, or Australia.