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Thai Beverage Subsidy to File Mega IPO in Singapore

Thai Beverage plans to sell a 20 per cent stake in its regional beer business via a Singapore listing. The listing will be the largest initial public offering in the country in nearly a decade.

Thai Beverage said the move would give BeerCo, a separately listed entity, direct access to debt and equity capital markets. It will also allow it to independently leverage on a wider range of funding options. This announcement came via a statement filed to the Singapore Exchange after midnight.

Reuters reported last month that Thai Beverage had revived plans to list its regional beer assets through a Singapore IPO that could raise about US$2 billion and that a listing could take place as early as the first half of 2021.

Thai Beverage did not give details of the size of the potential IPO. However, it did say the offering was subject to market conditions.

The company had targeted a mid-2020 listing. Unfortunately, the Covid-19 pandemic caused many countries to restrict movement thus the listing was delayed.

About Thai Beverage

BeerCo’s business includes Thai Beverage’s regional operations, including Vietnamese brewer Sabeco.

Thai Beverage, controlled by tycoon Charoen Sirivadhanabhakdi, one of the wealthiest man in Thailand. According to the latest Forbes listing, he is currently the third wealthiest in Thailand.

Thai Beverage is Southeast Asia’s largest drinks makers. ThaiBev was founded on 29 October 2003. The company’s CEO is currently Charoen’s third son, Thapana Sirivadhanabhakdi. Thapana became CEO in 2008.

Among the brands Thai Beverage carries is Chang beer. Chang beer ranks second in the beer market in Thailand after Singha. Chang beer was formerly the shirt sponsor for the popular English football team, Everton. However, Chang no longer is the shirt sponsor since 2017.

Thai Beverage lists the Singapore stock exchange since the Thailand stock exchange does not allow the listing of alcohol-related businesses.


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