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BreakingviewsCapital Calls: Asian beer IPO lacks liquid courage Reuters 3 minutes read Bottles of Chang beer are seen at a supermarket during the coronavirus disease (COVID-19) outbreak, in Bangkok, Thailand, October 12, 2020. Concise insights on global finance in the Covid-19 era.
BITTER TASTE. Spirits maker and brewer Thai Beverage (TBEV.SI) dropped plans for a $2 billion spinout of its beer business, citing market uncertainty and Covid-19 outbreaks. Dealing with a record caseload, Thailand shut bars read more at the weekend even though Vietnam, Thai Bevâs crown jewel growth market, is coping well. Most market valuations also have changed little since the initial public offering was unveiled in February. A better explanation for the abandoned deal is that the pandemic dashed chances for a frothy valuation. ....
Drinks giant Thai Beverage to resume expansion with Singapore IPO for Asean regional beer operation Latest move sees the huge Thai drinks conglomerate move to power faster and deeper expansion in ASEAN and Southeast Asia to tap into a growing beer market. The driving force and founder of Thai Beverage, Charoen Sirivadhanabhakdi, has become one of the wealthiest men in the world with interests in property, brewing, food, insurance and media. Thai Beverage filed papers with the Singapore Stock Exchange this week to pursue an IPO offering for 20% of a newly spun-off regional beer and drinks juggernaut focused on the Southeast Asian and ASEAN market where the firm sees potential for spectacular growth. It is understood that the Thai group’s 2018 purchase of Sabeco, the leading Vietnamese brewing firm, will be central to the new entity which is expected to be valued at $10 billion or ฿300 billion. ....
Thai Beverage to Sell Nearly 20% Stake via IPO in Beer Business morningstar.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from morningstar.com Daily Mail and Mail on Sunday newspapers.