SINGAPORE: Thai Beverage launches IPO

By | 25 May 2006

Thai Beverage has raised S$1.37bn (US$865.8m) from its initial listing on the Singapore Stock Exchange.

The Thai brewer and distiller said yesterday (24 May) that the IPO was priced at S$0.28, at the lower end of the indicative range. Asian stock markets have been hit in recent weeks by the prospect of interest rate hikes in the region.

Thai Beverage was "satisfied with the welcome given to the offering by investors," a company spokesman told Chinese newspaper Shanghai Daily.

The Singapore listing had prompted the head of the Thai stock market to quit after he failed to secure a listing for the Chang Beer brewer. Thai Beverage's plans for a domestic listing were scuppered by vocal opposition from Thailand's conservative Buddhist groups who feared the listing would encourage drinking, especially among younger drinkers.

Sectors: Beer & cider, Spirits

Companies: Thai Beverage

View next/previous articles

Currently reading -

SINGAPORE: Thai Beverage launches IPO

There are currently no comments on this article

Be the first to comment on this article

Related articles

THAILAND: Q3 jump fails to halt lower profits at ThaiBev

Brewing and distilling giant Thai Beverage has posted rising profits for the third quarter of the year - but the jump has failed to arrest a fall in earnings for the year so far.

UK: Thai Beverages buys Inver House Distillers

International Beverage Holdings, the international arm of brewing and distilling giant Thai Beverages, has bought Pacific Spirits UK, the owner of Scotch whisky producer Inver House Distillers.

THAILAND: Thai Beverage in talks to buy rival - report

Thai Beverage, the maker of Chang beer and Mekhong whisky, is reportedly in talks to buy a local rival distiller.

just-drinks tagline

Not a member? Join here

Decrease font sizeDecrease font sizeDecrease font size Increase font sizeIncrease font sizeIncrease font size Comment on this article Email this to a friend Print this page