Rumours of a public listing for ThaiBev’s beer business have resurfaced, with Reuters reporting that the group could launch an IPO later this year.

Citing unnamed sources, Reuters said earlier today that the owner of the Chang beer brand could raise around US$2bn from an offering in Singapore. The claim comes just over a year after ThaiBev, which is itself listed in Singapore, brought in advisors at what the company said at the time were “exploratory or early stages”.

In its report, Reuters said the assets that could be included in the listing comprise ThaiBev’s brewing operations in its home market of Thailand as well as in neighbouring Vietnam. ThaiBev has a majority holding in Vietnam’s Saigon Beer Alcohol Beverage Corp (SABECO), with the country’s authorities poised to offload their 36% stake having transferred it to a government-owned investment company in September.

Reuters’ sources in today’s article “declined to be identified as they were not authorised to speak to the media”.

Should an IPO be launched, ThaiBev would follow Anheuser-Busch InBev in floating its Asian beer assets. A-B InBev raised $5bn from an IPO for Budweiser Brewing CO APAC in late-2019.

As well as Chang and the SABECO controlling interest, ThaiBev is present in soft drinks and spirits, owning brands including Thai spirits favourites Mekhong and SangSom Special Rum as well as Scotch whiskies Balblair and Old Pulteney through its International Beverage Holdings division.

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