Thai energy drink maker Carabao Group PCL plans to launch its $210 million initial public offering early next week, IFR reported.

The company completed its premarketing on Tuesday and the actual price range will be announced next week with P/E multiple on the IPO likely to be in the high teens, according to IFR.

About $60 million of IPO shares will be offered to foreign investors and the rest to domestic investors. Earlier, the entire IPO had been aimed at domestic investors.

Carabao said in a filing it planned to sell 250 million shares, or a stake of 25 percent, to the public and use the proceeds to repay debt and expand its business, especially into the neighbouring countries of Cambodia, Laos, Myanmar and Vietnam.

CIMB and Kasikorn Securities are the banks on the IPO.

 

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