China Resources Holdings Co. has selected banks for the Hong Kong initial public offering of its bottled water unit that could raise about $1 billion, according to people with knowledge of the matter.
The conglomerate is working with Bank of America Corp. and BOC International on the listing preparations of China Resources C’estbon Beverage (China) Co., the people said. Citic Securities Ltd. and UBS Group AG are also arranging the deal, which may happen as soon as this year, the people said, asking not to be identified as the information is private.
