Carabao IPO fizzes at top of range

Thai energy drinks manufacturer and distributor prices flotation at the top end of its range on the back of strong demand.

Carabao IPO fizzes at top of range

Thailand's Carabao Group is on course to raise Bt7 billion $210 million from its initial public offering after pricing the 250 million share deal at Bt28, the very top of a Bt26 to Bt28 range.

Investors' desire to ride the momentum in Thai consumer stocks led to an institutional oversubscription ratio of 17 times including anchor demand, or 10 times overall.

Foreign investors placed orders for slightly more paper than domestic institutions,...

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