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Bangkok Post
Bangkok Post
Business

ThaiBev shares jump after it renews plan for IPO of regional beer assets

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.

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