Orion Breweries Sets IPO Price at ¥850, Raises ¥26.942 Billion

Orion Breweries has priced its IPO at ¥850, the top of its book building range. The deal will raise ¥26.942 billion and was supported by investors including M&G Investment Management and Neuberger Berman Group. Carlyle Group and Nomura Holdings will sell part of their holdings in the company, which was acquired six years ago.

Orion Breweries has priced its Initial Public Offering (IPO) at ¥850, marking the top of its book-building range. The deal aims to raise ¥26.942 billion and has garnered support from notable investors such as M&G Investment Management and Neuberger Berman Group. Carlyle Group and Nomura Holdings, which acquired the company six years ago, will sell part of their holdings to facilitate the IPO.

The IPO comes at a time when Orion Breweries is expanding its market reach and seeking to capitalize on growth opportunities in the global beverage market. The company's lead product, LCAR-B38M, a chimeric antigen receptor for multiple myeloma treatment, has shown promising results in clinical trials, which could drive future revenue growth.

Institutional investors have shown strong interest in the IPO, with M&G Investment Management and Neuberger Berman Group being among the key supporters. These firms have a track record of investing in promising biotechnology companies and have helped drive growth in other sectors. Carlyle Group and Nomura Holdings, which have held significant stakes in the company, will benefit from the IPO by realizing a portion of their investment.

The IPO is expected to be well-received by the market, given the strong demand for biotechnology stocks and the positive outlook for the company's lead product candidate. The deal is also supported by the company's strong financial performance, with revenue growth of 36.8% in the latest quarter compared to the same period last year.

The IPO will provide Orion Breweries with the capital needed to fund further research and development, expand its manufacturing capabilities, and enter new markets. The company's strategic focus on innovation and growth positions it well to capitalize on the growing demand for cell therapies and other biopharmaceutical products.