Carabao to raise Bt250m via IPO; introduces new beverage
Carabao Group plans to raise more than Bt250 million from the capital market after filing an application to the Securities and Exchange Commission in late June for an initial public offering.
The company expects to trade 250 million shares representing 25 per cent of its registered capital on the Stock Exchange of Thailand by the end of this year, said chief executive officer Sathien Setthasit.Meanwhile, the group will become the holding company of the Carabao Dang energy drink firm, Tawandang DCM, distributor of Carabao Dang energy drink, and bottle maker Asia Pacific Glass.
In another development, the company is introducing an electrolyte beverage called Start Plus Zinc.
With zinc as the main ingredient, the company claims this product will refresh and rejuvenate the body and revitalise personal appearance. The Carabao Group is targeting people who spend their lives outdoors, such as athletes and sports lovers. It aims to achieve 10 per cent of the electrolyte-drinks market by the end of this year.
The company’s executive vice president for marketing, Kamoldist Samuthkochorn, said he was confident that Start Plus Zinc would energise the electrolyte-drinks market, which last year was valued at around Bt6 billion.
It hopes to sell 5 million bottles per month of Start Plus Zinc this year.
