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

Scotch is great, says Scotch Whisky Association

To support the release of its latest report, entitled ‘The Economic Impact of Scotch Whisky Production in the UK’, trade body The Scotch Whisky Association has released this video, highlighting the si...

BLOG

At Coca-Cola Co, it's not just the head count that's getting smaller

The Coca-Cola Co is in the middle of a major restructuring plan, affecting jobs around the world. The company is also downsizing its packaging....

BLOG

Polish vodkas prove their worth in Ukraine

One, perhaps minor, consequence of the conflict in Ukraine appears to be a fall in sales of Russian vodka in the country....

BLOG

Diageo distilleries welcome you to their virtual world

Diageo has jumped onboard Google's latest interactive maps and is opening up the virtual doors to four of its distilleries. ...

just-drinks homepage



Forgot your password?