Japan's Suntory Beverage prices $4 billion IPO near bottom


Japan's Suntory Beverage and Food Ltd <2587.T> will offer its shares at 3,100 yen each, valuing its initial public offering at 388 billion yen ($4 billion), the company said in a regulatory filing on Monday.

The price was at the lower end of the book-building range of 3,000 yen to 3,800 yen that the company had set last week to gauge investor demand.

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Privately held Suntory Holdings Ltd is raising money by listing Suntory Beverage, its food and soft drinks unit, to fund its overseas acquisition drive. ($1 = 97.4750 Japanese yen)

(Reporting by Taiga Uranaka and Nathan Layne; Editing by Chris Gallagher)