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

Diddy shows he's a Diageo man with prod at Patron

Sean 'Diddy' Combs, the US rapper and entrepreneur, has publicly turned against his apparent former favourite Tequlia brand, Patron, now that he is joint-owner of DeLeón Tequila....

BLOG

A drink that makes you thin?

The Coca-Cola Co has spent a lot of money recently fighting accusations that soft drinks make you fat....

BLOG

The answer to our prayers - Christmas corporate gift packs

A new survey released today reveals that while 50% of UK workers would choose alcohol as a Christmas present from their employees, just 7% would opt for a charity donation sent on their behalf....

BLOG

The just-drinks Weekly Round-Up

Here's a round-up of the big stories on just-drinks last week, featuring Carlsberg, SABMiller, Campari, Monster Beverage Corp and the Australian wine industry....

just-drinks homepage



Forgot your password?