Thai Energy Drink Maker Prices $463 Million IPO at Top

(Bloomberg) -- Osotspa Pcl and current shareholders raised 15.1 billion baht ($463 million) after pricing the Thai energy drink maker’s initial public offering at the top of a marketed range, people with knowledge of the matter said.

The company and some existing backers sold 603.75 million shares at 25 baht apiece, the people said, asking not to be identified because the information is private. The shares were offered at 22 to 25 baht each.

Osotspa, which makes beverages under the M-150 and Shark brands, adds to the $1.5 billion raised through Thai IPOs this year, data compiled by Bloomberg show. The company plans to use proceeds from the share sale to fund domestic and overseas expansion, including construction of a factory in Myanmar, according to its prospectus.

Napat Boochasuk, an investor relations manager at Osotspa, didn’t immediately answer calls to her office seeking comment.

To contact the reporters on this story: Joyce Koh in Singapore at jkoh38@bloomberg.net;Anuchit Nguyen in Bangkok at anguyen@bloomberg.net

To contact the editors responsible for this story: Ben Scent at bscent@bloomberg.net, ;Divya Balji at dbalji1@bloomberg.net, Katrina Nicholas

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