Carlyle-Backed Orion Breweries Prices Upsized IPO at Highest End

Orion Breweries Ltd. set its initial public offering price at the top of the range after its shareholders boosted the number of shares to sell.

The Japanese beer maker priced its IPO at ¥850, the top of its book building range of ¥800-850, according to a regulatory filing on Tuesday. Investors including M&G Investment Management Ltd. and Neuberger Berman Group LLC expressed interest in buying the shares. The deal will raise ¥26.942 billion ($183 million) based on the offering price, including overallotment.

Its shareholders Carlyle Group Inc. and Nomura Holdings Inc. will sell part of their holdings, six years after ...