E-Malt.com News article: 1052

The media-shy liquor tycoon Charoen Sirivadhanabhakdi, one of Thailand"s richest men, has begun consolidating all his alcohol-related units, including Sang Som Group, under Beer Thai (1991) Co ahead of its listing before year-end. The move is a bid to extend his successes at home overseas. It will also prove a boon for the Stock Exchange of Thailand.
Source: Bangkok Post
“Once a business has been extremely successful in local market, it wants to “go international" as the next [logical] step,"" said Suvarn Valaisathien, a former deputy commerce minister and now an adviser to Mr Charoen. “No one will know you in international markets if you’re not listed on the national stock market."

The public share offering would be aimed at helping support development of the capital market in line with government policy, Dr Suvarn said.

Beer Thai (1991) Co, which brews Chang beer, is undergoing restructuring in preparation for the listing, expected to be completed by the end of the year. Merrill Lynch Phatra Securities is the financial adviser for the undertaking.

``The capitalization that will [be] raised from the deal is about 40 billion baht, about 15% of total issued shares, which is the minimum free-float requirement stipulated by the Stock Exchange of Thailand,"" Dr Suvarn said, adding that the capitalization would be a landmark amount for the Thai bourse.

``All alcohol-related businesses _ alcohol and ethanol production, liquor, and beer _ under Mr. Charoen"s empire would be merged under Beer Thai (1991) for the listing.""

Chang is the country"s best selling beer, with more than 60% market share with an annual production capacity of 1.88 billion litres, followed by Singha and Leo of Boon Rawd Brewery, with the remaining share held by other premium beers.


13 May, 2003