THAILAND: Thai Beverages IPO approved
The public listing of Thai Beverage Plc has been approved by the company's shareholders.
The IPO is expected to take place in October after a filing is submitted to the Securities and Exchange Commission in August.
The IPO has met with stiff oppostion from religous and anti-alcohol campaigners.
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.
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