Suntory Beverage & Food Ltd. is set to raise as much as ¥388.1 billion in Japan's biggest initial public offering this year after pricing near the low end of its range as volatile markets curbed demand.
The Tokyo-based soft drinks unit of Suntory Holdings Ltd. priced its shares at ¥3,100 each, it said in a regulatory filing Monday. That compares with the range of ¥3,000 to ¥3,800 it announced last week for the sale of as many as 125.2 million shares, including over allotment.
Suntory is pricing the IPO after Asian markets have tumbled on concerns that global stimulus will be cut and the Topix has dropped about 6 percent in the last two months as Prime Minister Shinzo Abe's growth strategy disappointed investors.