Sawadee, krup! Hey...how's it going? Good to see you. Got time for a coffee and a virtual treat? Why not, eh! When we were living in Thailand, we got to know the music of many of the Thai performers. None is more well-known than Add Carabao...one of my personal favourite singers/groups. Some time ago, Add brought out an energy drink called Carabao Dang and it quickly became a favourite amid quite a few competitors.
Rock icon Add Carabao, famed for songs about social
injustice and political issues, stands to become a baht billionaire when his
energy drinks company enters the stock market.
Carabao Group Plc will sell 250 million shares in its initial public offering on Wednesday and Thursday. The shares will begin trading under the symbol CBG on Nov 21.
Carabao Group Plc will sell 250 million shares in its initial public offering on Wednesday and Thursday. The shares will begin trading under the symbol CBG on Nov 21.
The share price has yet to be finalized but the company's financial adviser has set it in a range between 26 and 28 baht against a par value of one baht each.
In this price range, investors led by Add, whose given name is Yuenyong Opakul, would receive between 3.68 billion and 3.96 billion baht from the share sale.
Carabao Group is a holding company whose core business is the production and distribution of Carabao Dang-brand energy drinks.
With a 26% share in the 36-billion-baht local market in 2013, Carabao Dang was the second largest energy-drink brand after M-150 of Osotspa Group, with 45%.
K-Securities said it expected strong interest given the company's solid fundamentals and the brand's popularity at home and in Asean.
Carabao's most popular album, Made In Thailand, was released in 1984 and sold more than 4 million copies.
Add, a 60-year-old Suphan Buri native, was honoured with a national artist title in 2013.
Got to figure out how I can buy a few shares...
See ya, eh!
Bob
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