Thai energy drink maker Carabao Group PCL has priced an initial public offering (IPO) at 28 baht a share, to raise 7 billion baht ($213.48 million) for debt repayment and expansion, people with knowledge of the sale said.
The price was at the top end of a range of 26 to 28 baht reflecting strong demand, said the people, who were not authorised to speak with media on the matter and so declined to be identified.
Carabao plans to sell 250 million shares this month, or a 25 percent stake, and use the proceeds to repay debt and expand – particularly into neighbouring Cambodia, Laos, Myanmar and Vietnam.
CIMB and Kasikorn Securities are advising Carabao on the IPO. (Reuters)