Thai Bev To Sell 20% Of Beer Business In Blockbuster Singapore IPO

By Steve Wynne-Jones
Share this article
Thai Bev To Sell 20% Of Beer Business In Blockbuster Singapore IPO

Thai Beverage, controlled by one of Thailand's richest men, plans to sell a 20% stake in its regional beer business via a Singapore listing, in what is set to be the largest initial public offering in the city-state in nearly a decade.

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

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

Major Producer

Thai Beverage, controlled by tycoon Charoen Sirivadhanabhakdi, is one of Southeast Asia's largest drinks makers. It did not give details of the size of the potential IPO but said the offering was subject to market conditions.

The company, whose beers include Chang lager, had targeted a mid-2020 listing but delayed the IPO because of the COVID-19 pandemic as countries imposed restrictions on movement.


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

News by Reuters, edited by ESM. Click subscribe to sign up to ESM: European Supermarket Magazine.

Get the week's top grocery retail news

The most important stories from European grocery retail direct to your inbox every Thursday

Processing your request...

Thanks! please check your email to confirm your subscription.

By signing up you are agreeing to our terms & conditions and privacy policy. You can unsubscribe at any time.