A decision on whether Thai Beverage PCL will be permitted a listing on the Stock Exchange of Thailand (SET) is due in the next two months. The board of the SET failed to reach a conclusion on the matter at an extraordinary meeting yesterday (1 August).

A listing for the Thai beer and liquor maker has been postponed since earlier this year in the wake of opposition from social groups in the country on the grounds that alcohol consumption is against Thailand's Buddhist practices.

Speaking to reporters after the meeting, SET president Kittiratt Na Ranong said that a final decision is dependent on the Securities and Exchange Commission (SEC).

"We don't allow all kinds of businesses to list on the Thai bourse," Kittiratt said. "Any businesses that don't create any benefit to the economy, like cigarette producers, weapon manufacturers and gambling-related businesses, may not be allowed to list."

The SEC is due to hold a meeting on the matter in September, while the SET and SEC are expected to jointly discuss the listing later this month.

Thai Beverage is hoping to raise up to THB40bn (US$963.5m) from the listing.