THAILAND: ThaiBev revisits local IPO idea - report

By | 7 January 2008

Thai Beverage is looking to list in Thailand, according to local reports over the weekend.

The company, which is already listed in Singapore, has reportedly held talks with the Security and Exchange Commission in Thailand with a view to filing for listing in the country. The company's financial adviser, Phatra Securities, confirmed to local press over the weekend that negotiations have taken place, but warned that a listing would not be completed in the first quarter of this year.

A representative of the SEC was also cited in Thai reports as saying that the commission would be prepared to consider the filing.

ThaiBev, which owns the Chang beer and Sangsom rum brands, had initially looked to float in Thailand in 2005, but shelved the plans due, in part, to the then-imminent introduction of a new law governing alcohol in the country. Although the law, regarding when and where alcohol can be sold in the country, has not yet been passed in Thailand, a wave of protests from religious and anti-alcohol campaigners against an IPO led ThaiBev to abandon the idea and instead list in Singapore.

Last week, ThaiBev's president, Samut Hatthasing, resigned from the post, to be replaced in a temporary capacity by Thapana Sirivadhanabhakdi. Specific reasons for Hatthasing's departure were not disclosed.

Sectors: Beer & cider

Companies: Thai Beverage

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