THAILAND: ThaiBev ditches domestic listing hopes - report
ThaiBev, the owner of Chang beer, is reported to have dropped plans to list domestically
Thai Beverage Public Company has dropped plans to list on the Stock Exchange of Thailand in Bangkok, according to reports.
Speaking to Reuters earlier this week, ThaiBev's CEO, Thapana Sirivadhanabhakdi, said: "We no longer have a plan to list in Bangkok. We did get approached by the Thai bourse some time back but we couldn't go in and the timing just wasn't right."
No one was immediately available for comment at ThaiBev when contacted by just-drinks today (16 September).
The company, which owns Inver House Distillers in Scotland as well as Beer Chang Co and Mekhong Distillery in its native Thailand, has consistently met opposition in Thailand to its plans to list. Religious and anti-alcohol campaigners have staged protests in the past against the company's IPO intentions. Despite holding discussions with the Thai Security and Exchange Commission in early 2008, ThaiBev pulled the idea later in the year, citing “the current global market's instability”.
ThaiBev listed on the Singapore Exchange in 2006.
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