Japan's second-largest soft drinks company, Suntory Beverage and Food, opened 0.6 percent higher at its debut on the Tokyo Stock Exchange on Wednesday.
Shares of the company, whose brands include Orangina and BOSS coffee, opened at 3,120 yen ($31) a piece, and traded as high as 3,195 yen, or gains of 3 percent. The parent company's alcohol and beer unit was not included in the initial public offering (IPO).
Suntory priced its food and soft drinks unit at 3,100 yen ($31.68) per share, at the bottom end of a 3,000-3,800 yen range after raising nearly $4 billion in what is Asia's biggest IPO so far this year.
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Suntory's listing is also the second-largest globally after a $5 billion listing of Brazilian financial services firm Seguridade Participacoes in April.