Thai Beverage Company (TBC) is to push on with plans to float on the Stock Exchange of Thailand (SET). The announcement last week follows the decision by the country's Securities and Exchange Commission (SEC), the SET's regulator, to postpone a decision on the listing indefinitely in the light of strong protests.
TBC has come under fire in Thailand from religious and anti-alcohol campaigners who argue that an alcohol company should not be permitted on the stock exchange. Shareholders had approved the listing in July.
Last week, both sides took out adverts in Thai newspapers over the matter. An alliance of 67 religious organisations and 172 anti-drinking groups called for the SEC to consider the social implications of the listing, while TBC detailed its businesses, workforce and its philanthropic acts.
Citing a source from TBC, Thai News Service said today (15 August) that the company hopes to file officially by late this month or early next. If the SET rejects the move, the source said, then the company would not seek a listing overseas.
Sectors: Beer & cider
