September 18, 2018 / 9:02 AM / 3 months ago

UPDATE 1-Thai drink maker Osotspa plans $463 mln IPO to expand overseas

(Adds IPO details)

BANGKOK, Sept 18 (Reuters) - Thai beverage maker Osotspa Pcl has priced its initial public offering (IPO) at 22 baht-25 baht per share, and expected to raise between 13.2 billion baht ($405.28 million) and 15.1 billion baht ($463.62 million), the company said on Tuesday.

The 127-year-old drink maker, owned by the Osathanugrah family, planned to sell 506.7 million primary shares and 97 million secondary shares in the IPO, the firm said in a securities filing.

The IPO proceeds will be used to expand its overseas operations, including setting up a plant in Myanmar, glass furnace and maintenance and repairs of existing factories.

Osotspa is known for its M-150, Shark Stimulation energy drinks brands and personal care products.

$1 = 32.5700 baht Reporting by Chayut Setboonsarng, Editing by Darren Schuettler and Sherry Jacob-Phillips

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