Singapore: ThaiBev yet to review proposed spin-off listing of BeerCo

Thai Beverage has yet to review the proposed spin-off listing of BeerCo after the plan was deferred last 16 April, the Singapore Business Review reported on June 22.

The company deferred the listing over uncertain market conditions and volatile outlook, worsened by the pandemic that hit Thailand.

“ThaiBev continues to believe that BeerCo's position as one of the leading beer players in Southeast Asia and its growth potential offer a distinct and compelling growth story,” the company said in response to queries.

The company said it is closely monitoring market conditions and explore opportunities.

“The Proposed Spin-off Listing will be reviewed at the appropriate time by ThaiBev with its advisors,” the company also said.

It has yet to determine the offer price for the initial public offering as well as whether ThaiBev shareholders will be allowed to participate directly or indirectly in the IPO.

The company noted the use of proceeds may also differ from what was initially announced last February.

“ThaiBev continues to maintain the view that the Proposed Spin-off Listing, at the appropriate time and under the right circumstances, would be in the interests of Shareholders.”

22 June, 2021