THAILAND: Thai Beverage hopes for listing soon
Thai Beverage expects to list on the Stock Exchange of Thailand soon, despite protests in the last few months. The Bangkok Post said yesterday that the company expects to see its listing plans move forward in the second half of this year.
Thai Beverage has planned to list since earlier this year in an attempt to help raise funds for future business expansion. Opponents have argued, however, that the listing would be morally questionable and akin to using public funds to finance the company's business expansion, ultimately supporting greater alcohol consumption within Thailand.
Speaking to the paper, a SET official said: "The next meeting by the SET board will bring a decision on the listing." Most of the directors of the SET are believed to be in favour of the listing, the paper noted, given the large size of the company and the liberal view worldwide on listing companies on local stock markets.
"If the SET rejects the listing application, frankly it would be quite easy for Thai Beverage to list on overseas stock markets," Kris Kasemsarn, an executive director at Thai Beverage's financial adviser SCB Securities told the Post.
"The company is large enough to pass any market's requirements, both in terms of size and revenues," he said.
The next meeting of the SET exchange board is expected to be held next week.
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