Shares of I-Tail Corp Plc, the country’s biggest pet food maker, closed below their initial public offering (IPO) price on their first trading day on the Stock Exchange of Thailand after the second-biggest IPO of the year.
The shares jumped 5.5% to 33.75 baht shortly after the morning session opened on Friday but profit-taking pushed the price down to 31.00 baht at the close. The unit of the multinational frozen and seafood products maker Thai Union Group Plc raised 21.1 billion baht after selling 660 million shares at 32 baht each, the top of the indicated range. It was the largest debut on the SET since Thai Life Insurance raised some 34 billion baht in July.
