Carabao starts share trading
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Carabao Group (CBG) started its share trading on the Stock Exchange of Thailand today, witnessing a 21 per cent increase in share price in the morning.
As the morning session ended, the share price stood at Bt34, up by Bt6 from the initial public offering price of Bt28 apiece.
The company reported total revenue of Bt5.6 billion in the first nine months of this year, though domestic sale of its Carabao-branded beverage dropped in light of political instability. Against the 3 per cent decrease in domestic sale revenue to Bt3.8 billion, overseas sale revenue however rose by 44 per cent on year to Bt1.64 billion. Key export markets are Cambodia, Myanmar and Vietnam.
