By PR Venkat
Thai Beverage PCL has decided to postpone plans to list its brewing unit a second time in Singapore as volatile markets continue to weigh on investor demand for new shares.
The move to postpone the IPO comes within two months after ThaiBev announced its intention to expand its BeerCo Ltd. IPO plans. to revive.
“ThaiBev will continue to monitor market conditions, assess and explore opportunities to maximize shareholder value, including reviewing the proposed listing at an appropriate time, if appropriate,” the company said late Thursday.
ThaiBev had delayed the IPO last year citing the Covid-19 pandemic and market volatility.
People familiar with the deal had previously said the company plans to raise between $700 million and $800 million in the IPO, with a goal of going public this month.
In a separate earnings statement for the nine months ended June, ThaiBev said its sales rose 8.2% year-on-year to 207.92 billion baht ($5.91 billion), helped by strong beer and spirits sales .
Profit before interest depreciation and amortization rose 6.7% year-on-year to THB 39.11 billion.
ThaiBev owns Thai beer brand Chang, as well as a majority stake in Vietnamese brewer Saigon Beer Alcohol Beverage Corp., known as Sabeco.
Write to PR Venkat at [email protected]
(ENDS) Dow Jones Newswires
Aug 11, 2022 7:08 PM ET (11:08 PM GMT)
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