Thai Beverage Plc’s shares jumped on Thursday after the company confirmed 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.
ThaiBev shares rose about 3% as of 3:47pm in Singapore after gaining as much as 4.4% in their biggest advance since February. The company has a market value of S$17.6 billion (439 billion baht).
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….
