Thai drink maker Carabao sets IPO price range at 26-28 baht

By Reuters

Nov 03, 2014 02:29 AM EST

Thai energy drink maker Carabao Group PCL has set the price range of an initial public offering (IPO) at 26 to 28 baht a share, to raise up to 7 billion baht ($214.72 million), people with knowledge of the sale said.

The company received a good response during domestic IPO roadshows and will begin presenting information to foreign investors this week, said the people, who were not authorised to speak with media on the matter and so declined to be identified.

The final price is likely to be set next week, the people said.

Carabao plans to sell 250 million shares this month, or a 25 percent stake, and use the proceeds to repay debt and expand - particularly into neighboring Cambodia, Laos, Myanmar and Vietnam.

CIMB and Kasikorn Securities are advising Carabao on the IPO.

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