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Suntory Beverage & Food Ltd Debuts on TSE in Asia's Biggest IPO of 2013 -Kyodo News


Tuesday, 2 Jul 2013 09:45am EDT 

Kyodo News reported that Suntory Beverage & Food Ltd debuted on July 2, 2013 on the Tokyo Stock Exchange in Asia's largest initial public offering of 2013. The stock ended the morning session at JPY 3,165, compared with the Company's offering price of JPY 3,100 per share. The IPO will enable the Company to procure approximately JPY 390 billion, which the Company is planning to use to finance mergers and acquisitions overseas. According to research firm Dealogic Holdings, the IPO is the world's second largest in 2013 at around USD 3.8 billion, following the USD 5.0 billion listing of Brazilian financial services company BB Seguridade Participacoes SA in April. Suntory Beverage set the offering price at the lower end of its initially planned range of JPY 3,000 to JPY 3,800, given the recent stock market volatility in Japan. The Company was valued at near JPY 1 trillion based on its opening price of JPY 3,120.