Home MMBIZ News Thai Drink Maker Carabao Group Sets IPO at 28 Baht A Share

Thai Drink Maker Carabao Group Sets IPO at 28 Baht A Share

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)

- Advertisment -

Must Read

Govt to Lend K20 Billion Loans to Over 1,000 businesses 

အောက်တွင် မြန်မာလို ဖတ်ရှုနိုင်ပါသည် The government of Myanmar has announced that it will provide a total of K20 billion to over one thousand businesses, who applied...