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THAILAND: Thai Beverage IPO on hold

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Thai Beverage's listing has been put on indefinite hold. Thailand's Securities and Exchange Commission made the announcement in a statement over the weekend. The decision was made in light of the imminent introduction of a new law governing alcoholic drinks in the country.

The beer and liquor maker has seen its hopes of publicly listing hit by strong opposition in the country from religious and anti-alcohol campaigners. The proposed IPO has been hit by street demonstrations this year, as protestors argued that the move was morally questionable. Thailand is predominantly a Buddhist country and strict Buddhists do not drink.

A new law, expected to take effect in about two year's time, will restrict the time and place for selling alcoholic drinks, as well as limiting the age of the drinker. The law, proposed by the Public Health Ministry, will introduce measures to reduce the consumption of alcohol in the country, such as limiting the advertising and promotional activities of drinks companies.


Sectors: Beer & cider, Spirits

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