SAIF-Backed Ozner Water Plans $147M Hong Kong IPO

Shanghai-based Chinese consumer water purification supplier Ozner Water International Holding Ltd. is planning to raise US$147 million in an IPO in Hong Kong, according to a securities filing the company submitted to the Hong Kong Stock Exchange on June 5.

New York-based Och-Ziff Capital Management Group LLC has committed to buy US$40 million shares at the time of the IPO as a cornerstone investor.

According to the securities filing, Chinese private equity firm SAIF Partners holds 26.45% of Ozner Water before the IPO. Los Angeles-based Ares Management LLC holds 18.48%, and an entity 80% owned by Goldman Sachs Group owns 10.98% of the company.

All of the financial investors are not selling shares during the IPO.

The company claims that there are 2.28 million Chinese families using its water purifier unit. It recorded total revenue of US$64.3 million and net profit of US$24 million in 2013.