Thai Beverage puts off beer unit listing again on market pains

Thai Beverage Public

11/08/2022 14:19

Aug 11 (Reuters) - Singapore-listed Thai Beverage  TBEV.SI 
said on Thursday it will again defer the spin-off and initial
public offering (IPO) of its regional beer business, BeerCo, due
to recent market volatility. 
    The beverage maker cited "prolonged challenging market
conditions" as the reason for postponing the spin-off, which was
originally planned for early 2020.  urn:newsml:reuters.com:*:nL3N2WX00E 
    The firm, chaired by one of Thailand's richest people
Charoen Sirivadhanabhakdi, added it will review the spin-off and
listing when market conditions permit. 
    ThaiBev was looking to raise as much as $1 billion, Reuters
had reported in May, citing sources, by selling up to a 20%
stake in BeerCo.  urn:newsml:reuters.com:*:nL2N2WX086 

 (Reporting by Harshita Swaminathan; Editing by Shailesh Kuber)
 ((Harshita.Swaminathan@thomsonreuters.com;))