Blog: Andy MortonFirst day nerves as Suntory shares make Tokyo debut

Andy Morton | 3 July 2013

Suntory's food and drinks unit got off to a lukewarm start on its first day of trading in Tokyo today (3 July).

Starting at JPY3,100 after an IPO that eventually raised just shy of US$4bn, the shares closed up by 1.5%. Considering the Tokyo Stock Exchange was down for the day by 3% overall, that wasn't too bad. But, Suntory will be hoping for bigger gains in the future, especially as it has made clear it intends to use the IPO money to fund overseas acquisitions in line with domestic rivals Kirin and Asahi.

Suntory last week priced its shares at the lower end of their valuation, and, according to a company spokesperson quoted by Bloomberg, the IPO was “more than three times oversubscribed by domestic investors and almost two times oversubscribed by those from overseas”.


BLOG

Does Oscar glory beckon for 'Mr Heineken'?

Alcohol always has a big presence at the Oscars, albeit mostly in a supporting role....

BLOG

Is pisco preparing to make some noise?

Business is booming at copper pot still makers Chalvignac - you can tell from the loud noise coming from its factory floor in the French town of Jarnac-Champagne. ...

BLOG

Heineken has eye on the (soccer) ball in US

Heineken is betting big on the long-term opportunity around soccer in the US. ...

BLOG

Sierra Nevada heralds its new hop oil beer - video

California's Sierra Nevada Brewing Co is very proud of its new Hop Hunter IPA, which contains hop oil. ...

just-drinks homepage



Forgot your password?