December 1, 2022


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Thai Bev to market 20{9e6a73ef7eb6fa22b1de79554ca535a2a0aaa70d898e937e26eb250763832f63} of beer business enterprise in blockbuster Singapore IPO

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SINGAPORE, Feb 5 (Reuters) – Thai Beverage, controlled by one particular of Thailand’s richest adult men, ideas to provide a 20{9e6a73ef7eb6fa22b1de79554ca535a2a0aaa70d898e937e26eb250763832f63} stake in its regional beer business by means of a Singapore listing, in what is set to be the premier initial general public presenting in the city-condition in just about a 10 years.

In a statement filed to the Singapore Trade just after midnight, Thai Beverage said the move would give BeerCo, a separately detailed entity, immediate accessibility to credit card debt and equity money markets and make it possible for it to independently leverage on a wider assortment of funding choices.

Reuters noted final month that Thai Beverage experienced revived strategies to checklist its regional beer belongings by a Singapore IPO that could increase about $2 billion and that a listing could choose put as early as the 1st 50 {9e6a73ef7eb6fa22b1de79554ca535a2a0aaa70d898e937e26eb250763832f63} of 2021.

Thai Beverage, controlled by tycoon Charoen Sirivadhanabhakdi, is a person of Southeast Asia’s greatest beverages makers. It did not give details of the dimensions of the prospective IPO but stated the providing was subject to marketplace ailments.

The company, whose beers contain Chang lager, experienced targeted a mid-2020 listing but delayed the IPO due to the fact of the COVID-19 pandemic as international locations imposed limits on movement.

BeerCo’s small business contains Thai Beverage’s regional functions, which include Vietnamese brewer Sabeco. (Reporting by Anshuman Daga. Enhancing by Gerry Doyle)