Singapore-listed Thai Beverage said on Thursday it would look to sell a 20% stake in its regional beer business through a Singapore listing, more than a year after it postponed the plan for a second time due to pandemic-led uncertainty.
The spin-off by ThaiBev, controlled by one of Thailand’s richest men Charoen Sirivadhanabhakdi, was set to be the largest initial public offering in the city-state in nearly a decade before it was called off in April last year.
ThaiBev was seeking to raise about $2 billion from the brewery business’s IPO, and that it could value the company at about $10 billion, people familiar with the matter said in February. The unit contributed 29% to profits after tax at the parent company in the financial year ended Sept. 30, 2021, according to the statement.
ThaiBev is one of Southeast Asia’s largest makers of drinks and counts the popular…
