Thai Beverage Pcl is set to revive the initial public offering of its brewery unit in Singapore after scrapping the planned first-time share sale twice due to Covid-19, according to people with knowledge of the matter, as reported by Bloomberg.
ThaiBev, maker of Chang beer is working with financial advisers to gauge investors’ interest in BeerCo Ltd., said the people to Bloomberg.
The company is seeking to raise about $2 billion from the brewery business’s IPO, as reported by Bloomberg.
Shares of ThaiBev cut losses in Singapore after Bloomberg published this report.
The IPO preparation is underway and other details such as size and timing could change with no certainty that the listing will happen, Bloomberg reported.
ThaiBev will proceed with the planned Singapore listing of shares in BeerCo “when market timing is right,” and it will be part of the reorganization of the beverage giant’s business groups to “unlock market value,” Chief Executive Officer Thapana Sirivadhanabhakdi told reporters at a briefing in Bangkok in September.
