Thai Beverage, the maker of Thailand’s iconic Chang beer and popular Mekhong rice wine, among others, has restarted a plan to list its regional beer business on the Singapore Stock Exchange, more than a year after delaying the plan for the second time. plan. Uncertainty during the Covid-19 pandemic. The company, which is controlled by Thai billionaire Charoen Sirivadhanabhakdi, confirmed in a May 5 regulatory filing with the Singapore Exchange that it will seek to sell a 20 percent stake in its regional beer business through a Singapore listing. “The board considers it important…
Thai Beverage, the maker of Thailand’s iconic Chang beer and popular Mekhong rice wine, among others, has restarted a plan to list its regional beer business on the Singapore Stock Exchange, more than a year after delaying the plan for the second time. plan. Uncertainty during the Covid-19 pandemic.
The company, which is controlled by Thai billionaire Charoen Sirivadhanabhakdi, confirmed in a May 5 regulatory filing with the Singapore Exchange that it will seek to sell a 20 percent stake in its regional beer business through a Singapore listing.
“The board believes that the beer business has significant growth potential and believes that the potential can be better exploited through a dedicated board and management team and focused on the development of the beer business,” the document said.
Breweries in Thailand and Vietnam
For the listing, Thai Beverage plans to spin off its breweries including Thailand and Vietnam and its beer brands Chang, Archa, Federbräu, Tapper, Black Dragon Bia Saigon and 333 in Thailand and Vietnam into a brewery called BeerCo. independent entity.
The company said the spin-off would allow it to fund its own expansion plans and help parent company Thai Beverage financially, allowing the group to better use its financial resources to grow its other businesses, including non-alcoholic Beverage, food, restaurant and recycling waste.
high profit
Before Covid-19, Thai Beverage was looking to raise about $2 billion from an IPO of its beer business, which would value the company at about $10 billion. The company did not mention any such expectations in its current listing.
Thai Beverage said the beer business generated $3.03 billion in revenue and $248 million in net profit in the fiscal year ended September 2021, accounting for 29% of the group’s total net profit.
