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Thursday, March 28, 2024

ThaiBev to take Chang Beer public for over $2 billion despite Thailand’s economic woes

Thai Beverage
is preparing to take its brewery business public on the Singapore Exchange in
an IPO that could raise over US$2 billion. The firm behind Chang Beer is one of
Thailand’s largest conglomerates and the IPO represents a stark contrast as the
country’s economy struggles with the impacts of the pandemic and rising wealth
inequality.

Editorial

Drinks
conglomerate Thai Beverage has announced that it will list its brewery business
on the Singapore Exchange, in what would be the biggest initial public offering
(IPO) on the market in 10 years.

The company
produces Chang Beer and Sangsom rum, as well as Vietnam’s 333 and Saigon beers
via a controlling stake in Vietnamese firm Sabeco.

ThaiBev also
produces Chang in Myanmar in partnership with Shwe Than Lwin, a
military-affiliated firm previously sanctioned by the EU and
Australia, via a 28% stake in…

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