TOKYO (Reuters) - 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.
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