Suntory Holdings aims to raise JYN388bn (US$4bn) when it lists its food and soft drinks unit next week.
The Japanese company was expected to seek a higher price for its initial public offering (IPO) but, in a filing to the Tokyo Stock Exchange today (24 June), set a listing price of JYN3,100 per share. Suntory is to sell as many as 125.2m shares ahead of its TSE listing on 3 July.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
Suntory Holdings, which is 90% owned by the Suntory family, will retain at least 59.5% of Suntory Beverage and Food, while Suntory’s alcohol unit, which brews Suntory beer and owns the Yamazaki brand, is to stay in private hands.
The Osaka-based group has said it plans to use the IPO proceeds to pay back bank debts for past acquisitions and make strategic investments at home and abroad.
Suntory is the owner of soft drinks brands like Orangina and Schweppes. Its food interests include Cerebos Pacific, a Singapore-based subsidiary that sells products across Asia-Pacific, Australia and New Zealand.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalData
