Blog: First 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”.
Today is SABMiller's final day. Some time this evening, Brussel's time, the second-biggest brewer in the world will be subsumed into the biggest, creating a beer behemoth of unprecedented proportions....
No, this is not PepsiCo's new ad slogan for its Mountain Dew brand....
Major wine players flocked to China ready for online giant Alibaba's 9.9 Global Wine and Spirits Festival, which took place on 9 September....
In May, Heineken's CEO, Jean-François van Boxmeer, called Vietnam the "poster child" for international beer thanks to strong demographics and growing demand....
- Five ways small brands can beat big players
- Interview, Bulldog Gin CEO Anshuman Vohra, Pt II
- Pernod Ricard Q1 2017 results by region, brand
- Heineken's Q3 2016 results - Preview
- Analysts upbeat on Pernod Ricard's US success
- Bacardi rolls out new Oakheart rum packs to US
- Seedlip eyes global growth with export deal
- Beam Suntory workers end Jim Beam strike
- Edrington’s The Macallan 40 Year Old - NPD
- Boston Beer Co outlines Samuel Adams innovation
- Global gin insights - market forecasts, product innovation and consumer trends
- Global Scotch whisky insights - market forecasts, product innovation and consumer trends
- Global rum insights - market forecasts, product innovation and consumer trends
- Global Wine Market 2016-2020
- Global RTD insights - market forecasts, product innovation and consumer trends