Thai Beverage puts off beer unit listing again on market pains

Singapore-listed Thai Beverage said on Thursday it will again defer the spin-off and initial public offering 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. 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 per cent stake in BeerCo.

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