Home Capital Hot Stock

F&N jumps on Thai Starbucks deal

Bloomberg
Bloomberg5/27/2019 08:19 AM GMT+08  • 2 min read
F&N jumps on Thai Starbucks deal
SINGAPORE (May 24): Shares of Fraser and Neave got a jolt of caffeine after the company, controlled by Thailand’s richest man, announced plans to enter the Thai coffee market.
Font Resizer
Share to WhatsappShare to FacebookShare to LinkedInMore Share
Scroll to top
Follow us on Facebook and join our Telegram channel for the latest updates.

SINGAPORE (May 24): Shares of Fraser and Neave got a jolt of caffeine after the company, controlled by Thailand’s richest man, announced plans to enter the Thai coffee market.

F&N, better known for its 100Plus isotonic sports drink, jumped the most in 10 months after saying its joint venture unit would buy out Starbucks Corp’s operations in Thailand.

The deal --- that people with knowledge of the matter said could value Starbucks’ operations there at more than US$500 million ($687 million) -- sparked an early rally of as much 5.2% in F&N’s shares. Shares in F&N ended Friday 5 cents higher at $1.78, with 120.7 million shares changing hands.

×
Loading next article...
The Edge Singapore
Download The Edge Singapore App
Google playApple store play
Keep updated
Follow our social media
Subscribe to The Edge Singapore
Get credible investing ideas from our in-depth stock analysis, interviews with key executives, corporate movements coverage and their impact on the market.
© 2022 The Edge Publishing Pte Ltd. All rights reserved.